CCR Short Takes
News | 05/25/2000 4:00 am EDT
CBC and Power sell TRIO and Newsworld International
The Canadian Broadcasting Corp and Power Broadcasting Inc (PBI) have sold their two U.S.-based cable television channels, TRIO and Newsworld International (NI), to USA Cable, a division of USA Networks, Inc. The sale will generate about $155 million for the CBC. Launched in 1994, both services were equally owned and managed by PBI and CBC. TRIO and NWI collectively reach 11.7 million satellite and cable subscribers in the U.S. But the channels have struggled over the years to even achieve that level of penetration in the highly competitive U.S. market. One of its major distribution agreements was with satellite TV operator, DirecTV Inc. TRIO is a general entertainment channel that features contemporary dramas, documentaries and films from Canada, the U.K. and Australia. For the last six years, TRIO has been the largest exporter of Canadian TV programs to the U.S. with over 3,000 hours of content. Produced by CBC, NWI is the only 24-hour news network dedicated to global news in the U.S. Patrick Vien will continue in his role as president of both networks.