Arts, Briefly: Cablevision Buys Sundance

The future of the Sundance Channel is being defined this week after Cablevision closed a deal to acquire it. Rainbow Media Holdings, a subsidiary of Cablevision, said on Tuesday that it had completed the acquisition of Sundance from NBC Universal, CBS and Robert Redford for $496 million. On Wednesday, Rainbow executives are scheduled to meet Sundance employees in New York. Rainbow officials plan to announce a new structure for the channel that is meant to unify it with Rainbow’s other cable entities, including IFC, according to two people involved in the negotiations who spoke on condition of anonymity because the announcements had not been made. Sundance and IFC both showcase independent films, and some analysts have speculated that Cablevision may try to merge the two channels, although this week’s announcement is expected to keep the brands separate.

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