MGM Looking to Buy American Movie Classics Channel
MGM Chairman Alex Yemenidjian has indicated that he's looking to buy a cable movie channel -- in particular American Movie Classics (AMC). Yemenidjian told the UBS Warburg media conference in New York that AMC would be "a perfect fit for MGM." Cablevision Systems currently controls the channel and reportedly has engaged in discussions about a potential sale with CBS. However, Yemenidjian observed in a talk with reporters following his speech (as reported by the Los Angeles Times), "It's very easy to understand why the channel will do better in the hands of somebody who owns a 4,000-film library. ... That's why it's so exciting and that's why it's our top choice." Currently, MGM owns a 20-percent stake in AMC.
Although a 4,000-title film library is quite impressive, if we fudge the numbers a little and guess that the average running time for a film with commercials is two hours, that's a little over 8,000 hours....which is only about one year.
So if this sale happens, "UHF" is bound to show up on AMC at some point. And I know that we all adore the film, but surely this would be a sign of the apocalypse.
