Sony And Turner Broadcasting Partner For Playstation VUE

In a press release issued Wednesay, Turner Broadcasting System, Inc. announced a new deal reached with Sony Corp (ADR) SNE. The former will now offer entire portfolio of networks on the new PlayStation Vue service.

About The Service

PlayStation Vue offers live and on-demand TV content over the Internet. It became available beginning Wednesday in New York, Chicago and Philadelphia, starting at $49.99 per month.

Turner channels featured via PlayStation Vue are: TBS, TNT, Cartoon Network, Adult Swim, CNN, TRUTV, Turner Classic Movies (TCM), HLN, CNN en Español and Boomerang.

Turner Broadcasting released a statement saying: “With the progression and growth of new viewing options in the expanding distribution universe, it’s important to put our leading brands and content in a position where as many consumers can access them as possible. The more options we give audiences to access content from TBS, TNT, Cartoon Network, CNN, Adult Swim and Turner’s other popular networks the greater opportunity we have for exposure and consumption from a variety of audiences. Over-the-top services like Sony’s Playstation Vue create new paths for distributing our leading brands and provide another opportunity to have Turner’s award-winning and highly popular content accessible through a new delivery platform.”

Shares of Sony are up substantially on Wednesday afternoon.

Shares of Time Warner Inc TWX, owner of Turner Broadcasting System are also surging.