Fresh from its successful bid for MGM film studios, electronics giant Sony Corporation has agreed a joint venture with US cable company Comcast to launch new television channels on America's networks.
Channels such as AXN and Sony Entertainment TV are seen as possible choices for a US launch following their successful establishment in Asia and Latin America. Sony is also believed to have expressed an interest in trialling its Animax channel, based on Japanese 'anime' cartoons, on the US market.
Comcast's financial input enables Sony to overcome the high launch costs of US distribution. Says a spokesperson: "The price of entry to the US market has been so large we have not been able to consider it until now … with Comcast we can jump start that strategy."
Comcast may also contribute to Sony's MGM purchase, with a possible investment of $300 million (€243.5; £166.5m). The budding partners are keen to add MGM's film library to Sony's own extensive collection in the development of a video-on-demand business.
Data sourced from: Financial Times; additional content by WARC staff