Viacom’s Paramount, Lionsgate, and MGM all plan to launch a premium TV channel set to launch in 2009. The new premium channel will carry all new film and television releases, as well as archived content.
The channel is going to feature many upcoming movies such as Iron Man, GI Joe, the new James Bond films, and others.
The expected launch for the new premium channel is set for fall 2009, and should prove to be a major blow to the likes of HBO, Starz, and Showtime.
Viacom Chief Executive Philippe Dauman stated “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.”
Lionsgate and MGM are not likely to renew their contracts with Showtime, likewise for Paramount.