Three years after taking an initial stake in MavTV Lucas, Oil Products has assumed control of cable network.
Lucas Oil, which first began funding the male-targeted service in 2008 and then became the principal shareholder in January 2010, said it will make a significant financial investment in the network to upgrade its programming and increase the value of the channel. Programming and infrastructure announcements will be made in the months to come.
Financial terms were not disclosed.
Under this agreement, MavTV which is available to some 40 million U.S. homes, becomes part of the Lucas Oil Studio family of programming that already produces more than 350 hours of motorsports and lifestyle television programming annually.