SO MUCH FOR INDEPENDENCE: ROBERT REDFORD PAWNS SUNDANCE CHANNEL FOR $496 MILLION [BIG DEALS]
So Much For Independence: Robert Redford Pawns Sundance Channel for $496 Million [Big Deals]
In a deal forecast by analysts back in March, New royalty broadcast titans Cablevision yesterday acquired the Sundance Channel for $496 million. The amount was nearly 25% higher than its valuation at the time, and it adds nearly $50 meg to the notecase of eld shareholder and Sundance Film Festival originator Robert Redford; his partners at NBC Universal and CBS pocketed the rest. While Redford is due to meet with the network, it should undergo plentitude of another changes — not the least of which will be its transformation to a commercial-supported entity. What else would you wait from Sundance another than a word with its sponsors?
That development would support weaken what’s arguably Cablevision’s biggest paradox here: How to create coexistence between Sundance and its current indie-film channel IFC. Sundance currently reaches about 30 meg homes, having balanced discover uncut broadcasts of its namesake festival’s selections with more example planning over the last threesome years. It stops short of airing commercials, though, which Cablevision will seek to combine in a style similar to its canny phylogenesis of AMC from oldness flick shitting to contemporary activity for mainstream films and example series like Mad Men.
A commercialized Sundance Channel would also call IFC the latitude to oppose its precious mission — “independent film, unedited and commercially uninterrupted 24 hours a day” — with less of the tacky on-air branding and sponsorship credits it endures now. (Not that it’d provide up all of that cushy revenue, but still.) To that end, Sundance last hebdomad presented its first upfronts to advertisers, led by Redford himself. Assuming you haven’t changed the channel, wait to see the results between Iconoclasts and The Green segments some instance this fall.
- Sundance Is Sold to Cablevision for $496 Million [TV Decoder]
Tags: too such celebrity coverage in programme media, celebrity account pages, nollywood celebrity news, celebrity dead canid gossip