Metro-Goldwyn-Mayer launches HD channel on DirecTV | News | Market News | Reuters
LOS ANGELES (Reuters) - Film and television studio Metro-Goldwyn-Mayer Inc unveiled plans on Tuesday to launch a high-definition television channel this fall on the DirecTV satellite service with a mix of movies and original programs.
The channel is MGM's first stand-alone HD service in the United States and it marks a major expansion for the studio.
Chief Executive Harry Sloan called the launch a "milestone event" for MGM, the home of the James Bond film franchise.
"To grow significantly, we need to build assets. Over the last few years, we've launched channels all over Europe and now an HD channel in the U.S. gives us that growth opportunity" here, Slone told Reuters.
He declined to discuss financial details.
For DirecTV, the deal helps bolster content for its plans to roll out 100 new HD channels by the end of this year.
HD, the high-definition digital TV standard that offers viewers sharper pictures and better sound, is expected to be a major growth opportunity. U.S. officials are mandating a switch from analog to digital signals and HD is widely seen as being adopted over lower quality standard definition, or SD.
Moreover, satellite and cable TV providers are expected to promote HD heavily to boost their own subscriber growth. The number of U.S. homes receiving HD signals is expected to reach as high as 40 million by 2012, researchers forecast.
LOS ANGELES (Reuters) - Film and television studio Metro-Goldwyn-Mayer Inc unveiled plans on Tuesday to launch a high-definition television channel this fall on the DirecTV satellite service with a mix of movies and original programs.
The channel is MGM's first stand-alone HD service in the United States and it marks a major expansion for the studio.
Chief Executive Harry Sloan called the launch a "milestone event" for MGM, the home of the James Bond film franchise.
"To grow significantly, we need to build assets. Over the last few years, we've launched channels all over Europe and now an HD channel in the U.S. gives us that growth opportunity" here, Slone told Reuters.
He declined to discuss financial details.
For DirecTV, the deal helps bolster content for its plans to roll out 100 new HD channels by the end of this year.
HD, the high-definition digital TV standard that offers viewers sharper pictures and better sound, is expected to be a major growth opportunity. U.S. officials are mandating a switch from analog to digital signals and HD is widely seen as being adopted over lower quality standard definition, or SD.
Moreover, satellite and cable TV providers are expected to promote HD heavily to boost their own subscriber growth. The number of U.S. homes receiving HD signals is expected to reach as high as 40 million by 2012, researchers forecast.
