Paramount, MGM, Lionsgate Plan To Offer New Premium Movie Channel

Paramount, MGM, and Lionsgate are launching a new premium cable channel, to begin in 2009. Previously, Paramount had had a deal to market its movies to Showtime, owned by CBS. Next year, the three studios plan to begin showing their own content on this new, as yet unnamed channel, as well as backing a video on demand (VOD) service. The other two studios still have a contract with Showtime to broadcast their films on Showtime through the end of this calendar year. Showtime will then need to seek other producers of content for its subscribers. Read more here.