Building further momentum in its global branded-channel initiatives, Metro-Goldwyn-Mayer Inc. (NYSE:MGM), a worldwide leader in the production and distribution of entertainment product, and Tel-Ad, the highest-rated commercial broadcaster in Israel, announced today that the companies have forged an alliance to establish a movie channel for the region, showcasing the MGM Studio film library -- the largest and most modern in the world.
Expected to launch in May 2000, the new channel is planned to be initially available on basic cable to more than 1.1 million subscribers representing more than 80 percent of total television households in the country. The venture will utilize MGM's enormous catalogue of films, including such celebrated offerings as "Thelma & Louise," "Rain Man," "Silence of the Lambs," "Four Weddings and a Funeral," "Midnight Cowboy," "Moonstruck," "City Slickers," 17 of the Woody Allen films, and the popular "Rocky" and "Pink Panther" franchises. This endeavor marks the 10th channel in foreign markets in which MGM holds an equity stake.
"More than any other logo, MGM's roaring lion means `Hollywood' to viewers around the world," said Jim Griffiths, President, MGM Worldwide Television Distribution. "The combination of the recognizability and appeal of the MGM brand and the breadth and quality of its library with Tel-Ad's demonstrated distribution and programming strengths should result in a first-rate service."
Added Uzi Peled, CEO of Tel-Ad: "With this agreement, Israeli viewers will be able to enjoy the best Hollywood has to offer. Tel-Ad plans to implement an aggressive overall packaging strategy for this movie channel that will evoke a uniquely distinct mood and atmosphere. The final product will be a rich and compelling movie channel -- a `must-see event' that will prove to be a formidable contender in the cable TV arena."
Tel-Ad/Channel 2 has been Israel's leading production house since 1973 and the broadcaster of Israel's only commercial television station. Tel-Ad is Israel's leading content company.
MGM Worldwide Television Distribution handles global television distribution and television-program co-productions for Metro-Goldwyn-Mayer Inc. (NYSE:MGM). Through MGM Worldwide Television Distribution, nearly 4,100 feature films and 8,900 television episodes are available to the global television market.
Published by Israel's Business Arena on January 24, 2000.