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Paramount plan for film channel
21.04.08
Paramount studios owner Viacom is taking direct aim at Time Warner's HBO, famed for hit series such as The Sopranos, with a new movie channel it plans to launch with Lionsgate and Metro-Goldwyn-Mayer.
The new channel will have original programming as well as drawing on MGM's catalogue, which includes the James Bond franchise, and Lionsgate's, which includes Dirty Dancing. It is expected to launch in autumn next year.
The move comes as HBO has lost momentum. Programming executive Carolyn Strauss left recently to be succeeded by former talent agent Sue Naegle.
HBO does not have an original series on the air until September when vampire series True Blood premieres.
However, Viacom will not necessarily have access to all its best products. Paramount's contract with director Steven Spielberg for Indiana Jones and the Kingdom of the Crystal Skull, for example, requires the film to be made available to the highest bidder for television.
