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Cablevision’s Rainbow Media Holdings has hammered out a deal to acquire Sundance Channel, the cable network co-owned by General Electric’s NBC Universal, CBS Corp.’s Showtime Networks and the actor/director Robert Redford, in deal worth just shy of $500 million.
In a statement released Wednesday morning (May 7), Cablevision said that a sum of $496 million would be paid through a tax-free exchange of approximately 12.7 million shares of GE common stock held by the Rainbow Media unit.
NBC
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