| MUMBAI:
Viacom's Paramount Pictures, Metro-Goldwyn-Mayer Studios (MGM) and Lionsgate (LGF)
have formed a joint venture to create a premium TV channel. The
"next-generation" channel and video-on-demand service will combine new
and classic feature film output and original television series of five leading
studios. The new premium channel will launch next year. The
new venture will have access to Paramount and Paramount Vantage titles released
theatrically on or after 1 January, 2008 and MGM, United Artists and Lionsgate
titles released theatrically on or after 1 January, 2009. The
venture's programming slate will have exclusive access during the pay television
window to such recent and highly anticipated films as Iron Man, Star
Trek, Pink Panther 2, Cloverfield, The Curious Case of Benjamin
Button, Shutter Island, GI Joe, Love Guru and the upcoming
Tom Cruise film Valkyrie, along with others currently in production including
planned new installments of Robocop and Outer Limits.
In addition, the new venture will have access to motion picture titles spanning
the vast libraries of the five studios, which libraries include Braveheart,
Forrest Gump and the Mission: Impossible, The Godfather and
Star Trek franchises from Paramount; the James Bond, Pink Panther
and Rocky franchises from MGM; Dirty Dancing, Reservoir Dogs,
Crash, Monster's Ball, the Saw franchise, the Tyler Perry
catalogue and The Blair Witch Project from Lionsgate.
The new venture will also feature new original television series created by the
five studios.
Viacom will provide operational support to the venture, including marketing and
affiliate services through its MTV Networks division. Viacom
president and CEO Philippe Dauman said, "This venture has the potential to
be a game changer for the industry. We are building an innovative service that
will use traditional and new digital distribution technologies to bring great
film
and television entertainment directly to the consumer. "By
combining the output of Paramount with MGM and Lionsgate, two film and television
powerhouses, we are creating a premium film and television programming brand with
unique flexibility to bring consumers the very best blockbuster movies and innovative
TV series. "We
are extremely pleased to be in business with MGM and Lionsgate in this exciting
new venture which will provide our companies with a strong presence in the premium
TV marketplace well into the future." Paramount
Pictures chairman and CEO Brad Grey says, ""For close to a century,
Paramount has produced and distributed some of America's best-known and beloved
films - a tradition that continues today, with an outstanding lineup set through
2009. That commitment to great entertainment is matched by Paramount's focus on
creating new and innovative platforms that offer more access and flexibility to
consumers. We look forward to launching this historic premium entertainment service
with a strong slate that includes new releases like Cloverfield, Iron
Man and Star Trek alongside Paramount's legendary library." MGM
chairman and CEO Harry Sloan said, "At MGM, we are very pleased to have found
two partners that share our vision of providing first-run movies and premium-quality
original television programming across linear and digital platforms in a new way.
Our approach delivers unique flexibility for program distributors as well as consumer
options that will provide the highest quality
entertainment. "
The newly revitalised MGM, under the direction of Mary Parent, Chairman, Worldwide
Motion Picture Group, is preparing to bring top projects to the venture including
the newly acquired Robert Ludlum's The Maratese Circle, which will star
Denzel Washington as well as franchised movies based on James Bond, Pink
Panther and Thomas Crown." Lionsgate
co-chairman an CEO Jon Feltheimer said, "We are excited to be working with
two of the most respected studios in the business to start a new venture which
marshals the historic legacy of the past, the filmed entertainment leadership
of the present and a vision for the digital marketplace of the future. Our prestigious
and prolific libraries, diverse and commercially powerful new feature film releases
and enormous television series development expertise combine to make this a formidable
and uniquely compelling entertainment service from day one. This is a true next-generation
premium content offering for the consumer." | 
