Weinstein Co. Makes Cable TV Investment

Acquires Stake in Arts Channel Ovation

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NEW YORK (AdAge.com) -- The Weinstein Co. is launching its first foray into cable TV, purchasing Ovation, an entertainment network in 5 million homes, as part of an investment group that also includes Hubbard Media Group, Perry Capital, Lazard fund Capital Partners II and Arcadia Investments.
Harvey Weinstein
Harvey Weinstein Credit: AP

Carriage arrangements
The 10-year-old network's programming mix includes documentary-style shows on dance, theater, opera, jazz, classical music, literature and visual arts. Its carriage is small but the network says it is has master carriage agreements with several cable operators and is available on systems in markets such as Atlanta, Chicago, Minneapolis/St. Paul, New York, Orlando and Tampa/St. Petersburg.

The companies involved have stayed relatively mum on their plans for the fledgling network, although Ken Solomon, former CEO of the Tennis Channel, has been named chairman and Charles Segars, a founder of Fine Living who most recently served as senior VP-programming, production and network strategy at the Scripps network, is CEO.

Weinstein media ventures
Weinstein Co. has invested in a wide array of media ventures in the TV, internet, movie and publishing space. Other investments besides its film division include ASmallWorld.net, an exclusive invite-only social networking site; Genius products, which distributes home videos; TV production (it produces Bravo's "Project Runway"); and publishing, through its Miramax Books division (through September 2007).

Weinstein Co. was founded by Harvey and Bob Weinstein, who are best-known as the founders of film studio Miramax, which they sold to the Walt Disney Co. a decade ago. The brothers left Disney last year.
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