files/pictures/picture-35.jpgComcast Corp. announced that it has signed an agreement with Vulcan Programming Inc. to acquire TechTV Inc. Comcast plans to merge TechTV with G4, the Comcast-owned television network devoted to videogames and the gamer lifestyle. The deal increases Comcasts content portfolio and expands G4s distribution. The combined channel will be available to 44 million cable and satellite customers nationwide.
In addition, EchoStar Communications Corp. will have an equity interest in the combined entity and has agreed to make the channel available to its DISH Network customers. The transaction is subject to customary closing conditions and regulatory approvals. Financial terms were not disclosed.
Charles Hirschhorn, founder/ceo of G4, will be the CEO of the combined network. He said, "This merger is a win for G4; a win for TechTV; and a win for our advertising and affiliate partners. The result will be one compelling TV channel that showcases the fun and entertaining side of games and technology with the distribution necessary to achieve broad appeal."
Launched in 2002, G4 is currently seen in 15 million cable homes nationwide. TechTV, previously known as Ziff-Davis TV (ZDTV), was launched in 1998, was purchased by Vulcan Programming Inc. in 2000 and is now available in 43 million homes in the U.S.
Headquartered in Los Angeles, G4 (www.g4tv.com
) is the premier 24/7 television network devoted to the world of videogames. G4 is the leading source of entertainment and information about everything game from video to online to computer to wireless.
TechTV is the category-defining cable and satellite network that showcases technology in all forms. For more information visit TechTV.com.
Comcast Corp. (www.comcast.com
) is principally involved in the development, management and operation of broadband cable networks and in the provision of programming content. The company is the largest cable company in the U.S., serving more than 21 million cable subscribers. The company's content businesses include majority ownership of Comcast Spectacor, Comcast SportsNet, E! Entertainment Television, Style Network, The Golf Channel, Outdoor Life Network and G4.