News Broadcasting
Tech TV lands in Comcast lap
MUMBAI : Comcast Corporation has finally bought Tech TV, thus finishing its long rumoured sale on 25 March 2004.G4, the Comcast-owned television network devoted to video games and the gamer lifestyle, has signed an agreement with Vulcan Programming Inc. to acquire Tech TV. Comcast will merge TechTV with G4. The new network will be headed by G4 CEO Charles Hirschhorn and the operations will be based in Los Angeles, where G4 has just moved into a new studio.
Though executives have not commented on the price of the acquisition, it was reportedly slightly less than $300 million. But it still remains to be decided whether the production will continue at TechTV’s current San Francisco studios.
The channel would be available to 44 million cable and satellite customers nationwide would create a network which will serve the purpose of complementing Comcast’s growing content portfolio and expands G4’s distribution.G4 founder and CEO Charles Hirschhorn, will be the CEO of the combined network says, “This merger is a win for G4; a win for TechTV; and a win for our advertising and affiliate partners.”
He further states, “The result will be one compelling TV channel that showcases the fun and entertaining side of games and technology with the distribution necessary to achieve broad appeal”
For at least 30 days, viewers will see no changes in the appearance of TechTV or G4, while the deal is subjected to regulatory approval.
