Cablevision Subsidiary Acquires Sundance Channel

[bradley2]

Cablevision Subsidiary Acquires Sundance Channel
SkyReport.com (May 8, 2008)

(New York) Rainbow Media Holdings, Cablevision's programming subsidiary, today reached an agreement to acquire Sundance Channel and other Robert Redford-controlled entities from NBC and CBS as part of a $496 million stock exchange deal. Under terms of the tax-free arrangement, Rainbow will hand over approximately 12.7 million shares of GE common stock plus a cash adjustment at closing based on the current value of the shares. CBS and Redford's entities will receive a cash payment from GE for their interests. Sundance Channel, which reaches nearly 30 million households, joins AMC, IFC and WE TV as a Rainbow Media property.

 

[M Sparks]

I wonder what's going to happen with the packaging on this? Long ago, it was a separate premium channel, but it's been packaged with Showtime for at least 10 years.

Also, they've been cross programming on Universal HD...guess that'll stop.

Plus, IFC is basically a competing channel. How/why/what will set them apart if they have access to the same programming? Both brands are strong...IFC actually produces theatrical films, and Sundance is Sundance.

What an odd purchase. IFC probably has wider distribution than Sundance. They don't really directly compete. What's the benefit to Rainbow?

Both channels have been moving toward original programming. Perhaps one channel will go back to being a straight premium indie- movie channel and the other will move away from it.

 

[bradley2]

I would imagine, as Dish customers, it'll be a while before well see any new HD content from the parent company, Cablevision/Rainbow. Dish has burned some serious bridges as of late.