SUNDANCE CHANNEL FOR SALE?
In her Deadline Hollywood Daily, Nikki Finke links to and comments on a Bloomberg.com report that states that the Sundance Channel is for sale and that Cablevision, which already owns the IFC, may be a potential buyer.
From Andy Fixmer’s Bloomberg report:
The Sundance Channel, the cable network built around Robert Redford’s annual film festival, is for sale and Cablevision Systems Corp. may be the eventual buyer, according to Pali Research.
Owners General Electric Co., CBS Corp. and Redford are seeking $400 million to $500 million for the channel, which has 26 million subscribers, Richard Greenfield, an analyst at Pali Research in New York, wrote today in a report, citing sources he didn’t name.
Finke headlines her piece “Don’t Do It, Robert Redford!” I’m also a little confused as to why Cablevision would make this play. (As is the Pali Research analyst, who recommends selling Cablevision on the news.)