The Sundance Channel, a joint venture between NBC, CBS and Robert Redford, founder of the Sundance Film Festival – regarded as the Holy Grail of independent film, has been sold to New York-based Cablevision Systems for $496m.
Redford will remain with the Sundance Channel, which is known as a major outlet for unsold independent feature films and documentaries.
This will be Cablevision’s second channel to specialise in independent films.
