The Associated Press
Comment on this story
NEW YORK -
Cablevision Systems is buying the Sundance Channel, a cable network founded by Robert Redford, for $496 million.The deal adds another entertainment-themed cable network to the cable TV company's portfolio, which includes the independent movie channel IFC, AMC and WE TV.Redford owned a 6 percent stake in Sundance, General Electric's NBC unit had 57 percent, and CBS owned 37 percent. Cablevision will finance the deal with GE stock that it received when NBC bought the Bravo channel from Cablevision and Metro-Goldwyn-Mayer in 2002.
All rights reserved. This copyrighted material may not be published, broadcast or redistributed in any manner.
Get $150+ in coupons in every Sunday N&O. Click here for convenient home delivery.