Ovation TV acquires Universal music group's IMF
MUMBAI: Ovation TV, the arts TV network backed by Hubbard Media and Harvey and Bob Weinstein has acquired International Music Feed (IMF), a music video channel operated by Universal Music Group.
The network will add IMF's 8 million monthly subscribers to its existing base of 17 million across Time Warner and Comcast cable systems, and DirecTV satellite service.
IMF features concerts, interviews and music videos and was launched in 2005.
Under terms of the deal, Universal Music Group gained a minority equity stake in Ovation.
Ovation TV publicised itself as the only network devoted to the arts and arts-related programming, launched in 1997 with a focus on classical and fine arts. In June 2007, the channel relaunched with a broader definition of arts programming.