Sundance Chief Says Program Plans Proceed Despite Possible Sale
Ownership Change Is Nothing New For 12-Year-Old Network
By Linda Moss -- Multichannel News, 4/2/2008 5:54:00 AM
New York—In a day-late April Fool’s joke, Sundance Channel president Larry Aidem Wednesday offered a fake list of potential buyers for his network, a roster that included Wal-Mart and Denny’s.
Aidem first made light of Sundance’s potential sale during an upfront gathering for the press, and then he went on to say that the network has survived several previous ownership changes and is carrying on business as usual.
Aidem said that Sundance Channel’s upcoming programming plans, including its 2008-2009 development and acquisitions slate, were evidence “that we’re not missing a beat—in terms of what you might have heard or what might happen in terms of that.”
In late March, Pali Research analyst Rich Greenfield issued a report that said Sundance, which was co-founded by actor Robert Redford, was on the block for $400 million to $500 million.
NBC Universal has a 55% stake in the network, with CBS’s Showtime holding another 35% and Redford a 10% share.
At Sundance’s press breakfast, Aidem, known in the cable industry for his sense of humor, immediately addressed the sale issue.
“I’m just trying to get this out of the way upfront,” Aidem told reporters. “We refused to comment publicly on the recent sale rumors, and that’s not—for the most part—going to change today,”
“But I did feel at the beginning I owed it to you, because we gathered you here at a fairly early hour, and want to reveal for the first time the identities of several buyers you probably have not heard about,” he said.
Aidem said the names of possible buyers were culled from Forbes’s list of “least-admired companies.”
The joke list included Wal-Mart, Denny’s and USAir.
As for Denny’s, Aidem said, “Great food, great service, great people, and mention Bob Redford to your server and you’ll get a free fruity French toast on us.”
As for how USAir could use the network to its advantage in terms of slogans and its positioning, Aidem said, “We still suck, but with Sundance in every seat, perhaps you’ll find us slightly less contemptible.”
Then the Sundance Channel chief got serious.
“With all due respect to NBC Universal and CBS, they are the fourth Mommy and Daddy we’ve had, and fifth if you count the Viacom split two-and-a-half, three years ago,” Aidem said.
“We are used to changes in ownership…I can say only the most wonderful things about our parents and—just for the record—I call (NBCU president) Jeff Zucker ‘Mommy’ and (CBS CEO) Leslie [Moonves] ‘Daddy,’” Aidem said.
He then went on to say that Sundance Channel operates autonomously from its owners, with the one constant being Redford.
Offering a legitimate list of potential buyers, Greenfield last month said that Viacom, Time Warner and Cablevision Systems, which owns Sundance Channel competitor IFC, are all possible suitors for the network.
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