Participant Shutting Down Pivot Cable Network

BEVERLY HILLS: Participant Media is shifting its focus to content creation and social impact, and is exiting the business of owning and operating cable network Pivot.

Participant said the decision to wind down Pivot is part of an overall reevaluation of the business. The network launched in August 2013 and has been targeting young adults 18 to 34.

Participant Media’s CEO, David Linde, commented, “As the media landscape changes, we have been evaluating how we fulfill our mission to entertain and inspire social action around the world’s most pressing issues. That process has led us to the decision to move away from owning and operating a cable network. While this conclusion was not an easy one, it is ultimately in the best interest of all our stakeholders, and allows us to allocate more resources toward the production of compelling content across all platforms.”

“There has never been a better time to be a creator of great content,” continued Linde. “By focusing squarely in that direction, Participant is positioning itself to take advantage of these trends.”

“This was a decision made over a lengthy period of analysis,” said Linde. “The network’s real achievements can be wholly attributed to the Pivot team, of whom we are incredibly proud. This very talented group’s commitment to our broader mission has been absolute, and we are very grateful for their significant contributions to the organization.”