Viacom, MGM, Lionsgate to Launch New Premium Channel in 2009
Joint Venture Among Movie Studios to Offer New and Classic Film Titles, Original TV Programming
By B&C Staff -- Broadcasting & Cable, 4/20/2008 11:31:00 AM MT
The field of premium cable channels just got bigger. Viacom and its Paramount Pictures unit formed a joint venture with Metro-Goldwyn-Mayer Studios and Lionsgate on a new premium movie channel for television and video-on-demand service. The new channel -- which will have access to theatrical titles from Paramount, Paramount Vantage, MGM, United Artists and Lionsgate -- will launch in the fall of 2009.
The JV was announced Sunday by Viacom president and CEO Philippe Dauman, Paramount chairman and CEO Brad Grey, MGM chairman and CEO Harry Sloan and Lionsgate co-chairman and CEO Jon Feltheimer.
In addition to a slate of new and classic film titles, including Paramount’s Godfather and Star Trek series, the as-yet-unnamed channel will also showcase original television series.
Viacom, through its MTV Networks, will handle marketing and affiliate services for the channel. However, the announcement did not detail each participant’s stake in the venture.
