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Cablevision Buys Sundance

By BRIAN STELTER; Compiled by MIKE HALE
Published: June 18, 2008

The future of the Sundance Channel is being defined this week after Cablevision closed a deal to acquire it. Rainbow Media Holdings, a subsidiary of Cablevision, said on Tuesday that it had completed the acquisition of Sundance from NBC Universal, CBS and Robert Redford for $496 million. On Wednesday, Rainbow executives are scheduled to meet Sundance employees in New York. Rainbow officials plan to announce a new structure for the channel that is meant to unify it with Rainbow’s other cable entities, including IFC, according to two people involved in the negotiations who spoke on condition of anonymity because the announcements had not been made. Sundance and IFC both showcase independent films, and some analysts have speculated that Cablevision may try to merge the two channels, although this week’s announcement is expected to keep the brands separate.

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Sundance Reorganized Under IFC’s Shapiro

By Jon Lafayette

Rainbow Media today reorganized the management structure of its newly acquired Sundance Channel, putting it under Evan Shapiro, who had been running Rainbow’s independent film channel IFC tv.

Mr. Shapiro, currently executive VP and general manager of IFC, was named president of IFC tv and Sundance Channel, overseeing both networks.

Laura Michalchyshyn, who had been executive VP and general manager for programming and creative affairs at Sundance, will now be executive VP and general manger. Sundance CEO Larry Aidem was shifted to Rainbow’s Rainbow Ventures unit a day after the $496 million purchase was finalized on Tuesday.

Jennifer Caserta was named executive VP and general manager of IFC. She had been executive VP of marketing, scheduling and alternative platforms for IFC.

The new management team will be responsible for “strategically integrating Sundance Channel into Rainbow Media’s existing portfolio of entertainment brands,” the company said in a statement.

Layoffs are expected to be part of that process.

Rainbow said each network will retain a distinct brand, although both focus on independent movies and programming and run free of traditional commercials.

“At the helm of IFC, Evan has demonstrated strong leadership, programming and branding skills and will bring that expertise to his new role leading both Sundance Channel and IFC tv,” said, Rainbow National Entertainment Services President Ed Carroll, to whom Mr. Shapiro continues to report.