Foxtel has announced that it has reached agreement with the shareholders of the Premium Movie Partnership (PMP) to acquire certain assets of the PMP business.
Showtime channels include showtime premiere, showcase, showtime action, showtime comedy, showtime drama and enjoy rights to HBO and Showtime titles such as Dexter, Game of Thrones, Breaking Bad, Sons of Anarchy, True Blood, Boardwalk Empire, Veep and more.
Showtime also produced Cloudstreet, Satisfaction, Tangle and The Playlist for the local market.
A statement said the current PMP channels would be directly produced and managed by Foxtel and the majority of current PMP staff would be offered positions at Foxtel.
Foxtel CEO, Richard Freudenstein said, “This is a very sensible transaction for Foxtel. It drives synergies and savings that will enable us to offer a better movie and premium drama product to our subscribers. Bringing the PMP channels in-house will perfectly complement our recently launched drama channel SoHo.”
Movie Network channels including Movie One, Movie Extra, FMC and Starpics remain independently managed.
The deal, which is subject to a number of conditions precedent, is expected to be completed by 31 October.