A+E Networks has expanded its reach into the Asian marketplace by securing a partnership with South Korean media firm IHQ, in which it will acquire a strategic stake.
Under the deal, A+E will obtain two local channels – FoodTV and TVIS – which will be widely distributed across a range of platforms to more than 20 million homes via a partnership with IHQ and its majority shareholder D’Live.
FoodTV and TVIS will be rebranded under A+E’s portfolio of brands as Lifetime and History, respectively, in the coming year. The channels will feature a significant pipeline of local original content alongside A+E’s successful franchises.
The partnership will also see A+E launching a slate of digital content and products to exploit South Korea’s burgeoning digital ecosystem. IHQ and A+E will also work together to utilize regional growth opportunities for IHQ brands and content outside Korean Peninsula.
The deal is subject to customary regulatory approvals.
“This is a broad and ambitious partnership that enables A+E Networks to create a content production engine across all platforms, and will provide growth opportunities across a region that is of critical strategic importance to us,” said Edward Sabin (pictured), executive MD of Americas and head of commercial operations for international at A+E Networks, in a statement.
“The alliance is also a major step forward for IHQ as it will help with our efforts to expand at the global level and enable IHQ to be more aggressive in expanding its content and media operations. Furthermore, we expect the strategic investment to further increase the potential value proposition of D’Live and IHQ,” added YJ Jeon, CEO of IHQ and D’Live.