CHUM, RAINBOW MEDIA TO END MUCHMUSIC USA AGREEMENT
By Adnews Staff
CHUM Limited of Toronto and Rainbow Media Holdings of Jericho, NY will not extend the licensing agreement which allows Rainbow Media to use MuchMusic trademarks and programming on its U.S. channel. The two companies launched the MuchMusic USA channel in partnership in 1994. In March 2000, CHUM sold to Rainbow Media its 50% stake in the joint venture and entered into an agreement for the use of the MuchMusic trademarks and programming which will expire at the end of May. At that time, Rainbow Media will lose the right to use the MuchMusic name. "The end of this agreement allows us to look for new opportunities in the U.S. market that are more in line creatively with our well-established programming concepts and operating systems, and deliver our signature storefront style and interactive content across a variety of platforms," said David Kines, vice-president and general manager of MuchMusic/MuchMoreMusic.