Participant Media announced Monday that it will launch its
own cable network next summer that will target millennials.
Participant Media, which has already purchased The
Documentary Channel, has entered into an agreement to acquire the distribution
assets of Halogen TV from The Inspiration Networks. The services, once combined
and rebranded, will reach over 40 million subscribers. Terms of those
agreements were not disclosed.
"The goal of Participant is to tell stories that serve
as catalysts for social change. With our television channel, we can bring those
stories into the homes of our viewers every day," said chairman and
founder Jeff Skoll.
Participant is currently developing original content slated
for the new network with Morgan Spurlock, Davis Guggenheim, Marry Harron, The
Jim Henson Company's Brian Henson and Cineflix Media, which Participant
controls an equity interest.
Evan Shapiro, who has been tapped to run the to-be-named network, said: "Our content will be specifically designed for the
viewers that the pay TV eco-system is most at risk of losing. We all know
that millennials are changing how media is consumed. However, they also
have the strong desire and inimitable capacity to help change the world. Our
research shows that there is a whitespace in the television landscape and we believe
that a destination for the 'next greatest generation' will be a win for our
affiliate partners, advertisers and the creative community."
Before coming to Participant earlier this year, Shapiro had
served as president of IFC and Sundance channel since 2008.