Smallscreen News

Sundance not so Independent anymore: Sold for $496 million

By M&C Smallscreen May 8, 2008, 2:33 GMT

New York broadcast giant Cablevision yesterday bought Sundance Channel for $496 million. Actor Robert Redford EPA/MATTHEW CAVANAUGH

Actor Robert Redford EPA/MATTHEW CAVANAUGHVariety reported that the amount was nearly 25% higher than its valuation at the time, which pads the deal an additional $50 million going to the wallet of minority shareholder and Sundance Film Festival founder Robert Redford; his partners at NBC Universal and CBS gets the rest. Redford reportedly will stay on with the network, as it transitions to a commercial-supported network.The conundrum is that Cablevision's other arty independent network, IFC, essentially programs for the same demographic. Cablevision has also transformed AMC from classic ol'movie channel to a contender with critical hit series, "Mad Men" and edgier fare as well.What the new sale means for IFC - "independent film, unedited and commercially uninterrupted 24 hours a day" is uncertain.

On the Web

Blowing Up Blogs

Place your ad here
Loading...

Robert Redford - View Robert Redford Pictures - Robert Redford News

Click to launch this Robert Redford gallery

Your Talkback on this Story

Latest Headlines in Smallscreen

Older Talkback

Like M&C on Facebook

Custom Search

Viral Web

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games Herald; XPRNC; Deutschland (Der Technikbote); Deutschland (Bellalu)

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2012 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint