Discovery Communications (NASDAQ: DISCA, DISCB, DISCK), Sony Corporation (NYSE:SNE) and IMAX Corporation (NASDAQ: IMAX; TSX: IMX) jointly announced a joint venture to develop the first dedicated 3D television network in the U.S. T
The partnership brings together 3D content, technology expertise, television distribution and operational strength to deliver a three-dimensional viewing experience.
“Discovery’s business strategy has always focused on delivering groundbreaking content through new platforms, including the first suite of digital channels launched in 1996 and the first 24/7 basic cable HD channel in 2002,” said Discovery Founder and Chairman John Hendricks. “Now, as Discovery celebrates its 25th anniversary in 2010 as the world leader in satisfying curiosity and bringing audiences the most realistic viewing experience, we continue to change the face of television with the launch of the first-ever 24/7 dedicated 3D television network.”
IMAX, which owns and operates 3D theatre across the globe, said the partnership was its first step in a strategic effort to take 3D into the home; “We’ve already had strong collaborations with Discovery Communications and Sony in the past on IMAX event film titles, and we are thrilled to work with such strong partners to be the first to make in-home 3D a reality.”
Discovery, Sony Corporation of Ame
rica and IMAX each will be equal partners in the joint venture. The 3D network will source content from Discovery, Sony Pictures Entertainment, IMAX and other third-party providers.
“Discovery will provide network services, including affiliate sales and technical support functions, as well as 3D television rights to Discovery content and cross-promotion across its portfolio of 13 U.S. television networks. Sony will provide advertising/sponsorship sales support, and will seek to license television rights to current and future 3D feature films, music-related 3D content and game-related 3D content, while providing cross-promotion at retail stores. IMAX also will license television rights to future 3D films, promotion through its owned-and-operated movie theaters across the U.S., and a suite of proprietary and patented image enhancement and 3D technologies,” the joint statement noted.
Disclosure: I do not hold a position