Canis Seeks Options for FILM24

LONDON: Management of the British film channel FILM24, available on Sky, has been taken over by Canis Media, which is seeking options for the service, including an outright sale or a joint venture.

The service, available on channel 157 on the Sky Digital EPG, airs a mix of movies, documentaries and U.S. series. Canis Media has taken over the day to day management after FILM24’s majority shareholder, the Caparo Group, ceased financing the channel. Canis Media, which previously handled the sale of Setanta’s UK slots, is exploring a sale of the EPG position, a rescue package or a joint venture with a new owner, either in the U.K. or internationally.

Ed Hall, chief executive of Canis Media, noted: “Film24 and its executive management fought extremely hard in today’s tough economic TV climate to build a reputable brand, achieve good audiences and occupy an excellent position on the Sky EPG. We are now able to try and secure a sustainable future for the channel or the EPG position."