Sundance Channel Up For Sale
The Sundance Channel, a joint venture of NBC Universal, CBS and Robert Redford, is being put up for sale, a media analyst said Wednesday.
The channel, available in 28 million homes, is seeking a valuation in excess of $400 million, according to Richard Greenfield, a media analyst at Pali Research. If neither NBC or CBS decides to purchase a complete stake in the channel, Cablevision, Time Warner and Viacom are seen as potential bidders, he said.
Reached at lunchtime on Wednesday, a spokeswoman for the channel said executives had no comment.
The Sundance Channel promotes itself as "independent-minded" and shows films, documentaries and original programming. While operating separately from the Sundance Film Festival, it seeks a similar audience. Better-known programs include "Iconoclasts," where two famous people interview each other, and the eco-lifestyle show "The Green." On Wednesday night it will present a pair of documentaries, "Nice Bombs" and "The Situation," focusing on the fifth anniversary of the Iraq war.
Rather than running standard commercials, the Sundance Channel uses a sponsorship model that has achieved some success in the past year. Introduced in January 2007, the "sponsored by" messages and brand integrations have been embraced by Lexus, Citi Smith Barney, Cadillac, Grey Goose, HP, Microsoft, and Stella Artois, among others.