LOS ANGELES: Film and television studio Metro-Goldwyn-Mayer Inc (MGM) has unveiled a venture with CNBC Asia Pacific to launch a movie channel under the MGM brand name on satellite and cable TV systems in Asian markets.
The deal marks one more step in an aggressive strategy by MGM’s television group over the last few years to launch MGM-branded movie channels in international markets. And it underscored the success with which MGM and CNBC’s sister company, NBC, had worked together overseas, studio executives said.
NBC and CNBC are units of General Electric Co.
Under the deal with CNBC Asia Pacific, financial details of which have not been disclosed, the two plan to launch an MGM channel later this year. The channel will broadcast movies in English and Chinese from MGM’s 4,000-film library that houses titles like Oscar winning Midnight Cowboy and popular hit The Birdcage.
CNBC Asia Pacific will provide the distribution and other services in Asian markets. – Reuters
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