MGM HD Gets Comcast Carriage
Metro-Goldwyn-Mayer’s New HD Cable Network to Show HD Movies Linear, On-Demand
By Glen Dickson -- Broadcasting & Cable, 5/16/2008 2:55:00 PM
MGM HD, the HD-movie channel from studio Metro-Goldwyn-Mayer, announced late Friday that it signed an affiliate agreement with Comcast, the country's largest cable operator.
The carriage deal is not surprising, as Comcast holds a 20% stake in MGM. Other investors include Sony and a host of private-equity firms: Providence Equity Partners, Texas Pacific Group, DLJ Merchant Banking Partners and Quadrangle Group.
MGM had previously inked carriage deals with satellite operator DirecTV, telco Verizon Communications and smaller cable operators such as RCN and Massillon Cable TV in Ohio.
The deal will give Comcast access to hundreds of HD movies from the MGM library, which will be offered to its subscribers on both a linear channel and through its video-on-demand service.
"This is another step in growing the incredible opportunities that exist between MGM and Comcast and deepens our strategic relationship," said Jim Packer, co-president of worldwide television for MGM, in a statement. "We are very excited to be able to offer MGM HD to Comcast’s HD customers and think that the channel will be a wonderful complement to the company’s HD initiatives.”
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