'Plum' Deal In the Works?
Some high-profile suitors are kicking the tires at rich-people network Plum TV, reports the New York Post, including Barry Diller, Ted Forstmann and Terry Semel.
The Post writes:
The nascent niche cable network targeting the supremely affluent has had conversations focused on either an outright purchase or an equity infusion with a path to control with several interested parties, according to three people close to the situation.
Four-year-old Plum has outlets in resort spots like the Hamptons, the Vineyard and Aspen, each airing both local programming and network fare. The crappy U.S. economy has taken too much out of a bite out of Plum, sales prez Rob Gregory has said. The well-to-do are still decamping to their ritzy locales, even if the bottles of wine they’re consuming aren’t as expensive.
Plum is also eyeing more vacation destinations, such as Napa and Park City, in which to expand.