Liberty Media “Looking Over Rainbow Media”

January 3, 2007

DirecTVWhen I first glanced over this article from the New York Post, I had to do a quick double-take to make sure I read the date right. Yep sure enough that’s January 3rd 2007, not 2006. Apparently Liberty Media’s (majority stake holder in DirecTV) John Malone is interested in acquiring Rainbow Media from Cablevision.

The name Rainbow Media may not ring a bell but the AMC channel, IFC and WE (Women’s Entertainment) might. Rainbow also controls a little package of high definition channels you may have heard of, Voom HD Neworks.

A deal for Rainbow’s programming assets, which also include about 20 high-definition genre cable networks and a smattering of regional sports channels, could easily generate north of $2 billion.

For Malone, Rainbow’s programming assets would solidify the foundation he now has with DirecTV, which last month he agreed to acquire as part of an asset exchange with News Corp.

Interesting stuff indeed (potentially) at least for DirecTV subscribers as the deal could land the Voom HD channels on DirecTV. We’ll follow this story as it develops.

Posted by Bryan Greenway | | Filed Under DirecTV News