NEW YORK and ST. LOUIS, May 10 /PRNewswire-FirstCall/ -- Showtime Networks Inc., an award-winning and critically acclaimed premium television programmer, and Charter Communications, Inc. (Nasdaq: CHTR) today announced an extension of their affiliation agreement through June 2008.
As part of the agreement, Showtime and Charter have created a low-priced movie package, which includes SHOWTIME, THE MOVIE CHANNEL, FLIX, plus SHOWTIME HD and SHOWTIME ON DEMAND offered for $4.00 retail. Providing a new and unique value proposition in the marketplace, the package was initially introduced in October 2003 to promote Charter's advanced services. The combination of Showtime Networks' strong programming content, driven by Charter's latest technology, offers the consumer an attractive digital price point of $49.99.
Patrick Burks, Showtime Networks' Executive Vice President of Cable Distribution stated, "We are always eager to work with our cable affiliates to develop innovative strategies that will drive digital sales, revenue and margin for the operator while boosting viewership and sales of our premium services. Given the results this digital movie tier has generated, I believe this strategy benefits all parties, most importantly the discerning consumer in today's competitive marketplace."
Kip Simonson, Charter Senior Vice President of Sales and Marketing said the innovation of this agreement has redefined the premium programming category. "The creation of a robust digital movie tier and the products it represents is consistent with Charter's strategy of providing advanced services, priced and packaged in a manner that offers compelling value. This digital movie tier will help reduce churn by driving customer relationships. Showtime was especially open to this strategy due to the depth and breadth of their programming, including their subscription video on demand and high definition offerings."
Showtime Networks Inc. (SNI), which is a wholly owned subsidiary of Viacom Inc., owns the premium television networks SHOWTIME(R), THE MOVIE CHANNEL(TM) and FLIX(R), as well as the multiplex channels SHOWTIME(R) TOO(TM), SHOWTIME(R) SHOWCASE, SHOWTIME EXTREME(R), SHOWTIME BEYOND(R), SHOWTIME NEXT(R), SHOWTIME WOMEN(R), SHOWTIME FAMILYZONE(R) and TMC xtra. SNI also offers SHOWTIME HD(R), THE MOVIE CHANNEL HD(R), SHOWTIME ON DEMAND(R) and THE MOVIE CHANNEL ON DEMAND(TM). SNI operates and manages the premium television network SUNDANCE CHANNEL(R), which is owned by SNI, Robert Redford and Universal Studios. All SNI feeds provide enhanced sound using Dolby Digital 5.1. SNI markets and distributes sports and entertainment events for exhibition to subscribers on a pay-per-view basis through SHOWTIME(R) PPV. Additionally, the advertiser-supported television network SHOWTIME EXTREME(R) is available in Spain through a joint venture with Media Park and the advertiser-supported television network SHOWTIME is available in Turkey through a joint venture with UK-based Zone Vision.
SOURCE Showtime Networks Inc.; Charter Communications, Inc. -0- 05/10/2004 /CONTACT: Joan Ziff of Showtime Networks Inc., +1-212-708-1590, email@example.com; or David Mack of Charter Communications, Inc., +1-303-323-1392, firstname.lastname@example.org/ /Web site: http://www.SHO.com / (CHTR) CO: Showtime Networks Inc.; Charter Communications, Inc. ST: New York, Missouri IN: ENT TVN SU: GS -- NYM168 -- 1594 05/10/2004 11:40 EDT http://www.prnewswire.com