Cablevision Still Spending Money
Last week Cablevision made a deal to buy The Sundance Channel for $496 million in stock & cash. Today it looks like Cablevision will deal out $650 million for the Tribune Company’s Newsday.
Newsday is the 11th largest newspaper in the country and one of the many assets of the Tribune Company that Sam Zell plans to sell since he took over the company.
Read the New York Times story here.
Corporate Shift for the Sundance Channel
The Sundance Channel’s current owners are NBC Universal, the CBS Corporation and Robert Redford. Considering what an unusual partnership that is and that they did a pretty good job, I’m hesitant to freak out with the news that Cablevision just bought the channel.
The folks at Cablevision own Rainbow Media Holdings who in turn own AMC, IFC and WE tv. Robert Redford will still be involved in the network and current plans are not to merge the Sundance Channel with IFC.
We might have to wait to see what happens before we complain about seeing one of our favorites being bought. There’s no mention of the sale on the Sundance Channel web site as of today.
You can read the New York Time story here.
