05/03/2008 05:12 am ET Updated May 25, 2011

Cablevision The Frontrunner To Acquire Sundance Channel: Report

Cablevision is the frontrunner to acquire Robert Redford's Sundance Channel, The Post has learned.

According to two sources close to the negotiations, Cablevision was the high bidder when final offers were submitted two weeks ago. While these sources said Cablevision appears to have pulled away from the pack, the James Dolan-led company is still facing stiff competition from other bidders involved in the process, including Time Warner and Viacom.

Sundance and its advisers at investment bank UBS are expected to make a final decision over the weekend and an announcement could come as early as Monday, sources said.

The final purchase price is expected to approach $500 million, they added.

"It's a tight race," said one of the sources.

Read more on New York Post