RE: AIFFP :::::::Rainbow to buy stake in IFILM
By GARY GENTILE, Associated Press
LOS ANGELES (August 23, 2000 1:37 p.m. EDT
nandotimes.com) - Rainbow Media Holdings, a subsidiary of
Cablevision Systems Corp., has announced plans to buy a 5 percent
stake in IFILM, an Internet company that serves as a portal for short
films and animation and provides Web-based tools for film industry
professionals.
As part of the deal announced Tuesday, IFILM will produce 26
half-hour episodes of a magazine-style television show to be featured
on Rainbow's Independent Film Channel. The show will debut next
spring and will originate from IFILM's new Hollywood headquarters.
Rainbow will also provide IFILM with on-air promotions on the cable
TV network, and IFC and IFILM will promote each other and exchange
content.
"The extension of the IFILM brand into television is a giant step in our
company's development and will be welcome news to our thousands
of filmmakers who will now have an opportunity to reach an even
broader audience," said Kevin Wendle, chief executive at IFILM.
The deal is an example of how entertainment Web sites are beginning
to develop content for television and even feature films.
Seattle-based AtomFilms has signed agreements to air some of its
films and shows on cable networks. And earlier this month, Showtime
Networks licensed a half-hour animated comedy show on the Web
site Icebox.com. Showtime will turn the program into a 13-episode,
live-action series.
The deal also reflects Wendle's strategy to reposition IFILM from a
pure content creator to a portal for independent films and animation
across the Web. The company has also acquired several
industry-only tools and opened IFILMPro.com, a site that allow
filmmakers to track projects and connect with independent
filmmakers.
Earlier this month, IFILM joined with AMC Theaters to show five short
films in theaters after the Academy of Motion Picture Arts and
Sciences announced that any film that debuted on the Internet
instead of in theaters would not qualify for an Oscar nomination. |
