Grace Creek Media Acquires SPORTSKOOL from Rainbow Media

Programming Deal in Place with USA TODAY

New York, NY (October 8, 2008) – Rainbow Media Holdings LLC announced today that it has completed the sale of its SPORTSKOOL video-on-demand service to Grace Creek Media, a Washington, D.C.-based production, distribution and management company. SPORTSKOOL is the first VOD service dedicated to delivering in-depth sports expert instruction and coaching for a wide range of sports and athletic activities.

"SPORTSKOOL is a unique and compelling VOD service with a vast library of sports instruction content and a powerful distribution platform for that content with major cable operators," said Grace Creek Media Founder and CEO Andrew Walworth. "We are excited to build on SPORTSKOOL success through our own efforts and our strategic relationship with USA TODAY."

USA TODAY LIVE, the television production arm of the nation’s top-selling newspaper, will work with Grace Creek Media on SPORTSKOOL instructional videos. The partnership will include video production, promotion and cross-platform advertising packaging of SPORTSKOOL across print, television and online. In addition, editorial services based on the experience of USA TODAY’s award-winning Sports reporting team will be part of USA TODAY LIVE-created programming.

"This new relationship with SPORTSKOOL is an exciting and important part of USA TODAY’s ongoing mission to leverage the brand’s sports heritage onto new platforms," said Lauren Ashburn, managing editor, USA TODAY LIVE. "This partnership expands on our robust relationship with Grace Creek Media, one of Washington’s most innovative production companies."

"Grace Creek Media is the ideal owner for SPORTSKOOL with numerous opportunities to enhance and strengthen the sports instruction content and further develop the service for its audience, particularly working with USA Today and its team," said Dan Ronayne of Rainbow Media. "We wish them much success in the years ahead."

Financial terms of the transaction were not disclosed. RBC Daniels advised Rainbow Media on this transaction.

Rainbow Media Holdings LLC
Rainbow Media Holdings LLC is a subsidiary of Cablevision Systems Corporation (NYSE: CVC). Rainbow Media is a leading producer of targeted, multi-platform content for global distribution, creating and managing some of the world’s most compelling and dynamic entertainment brands, including AMC, IFC, WE tv, Sundance Channel and VOOM HD Networks. Through IFC Entertainment, Rainbow Media also owns and manages the following: IFC Films, a leading distribution company for independent film; IFC Productions, a feature film production company that provides financing for select independent film projects; and IFC Center, a three screen, state-of-the-art cinema in the heart of New York’s Greenwich Village. Rainbow Media also operates Rainbow Advertising Sales Corporation, its advertising sales company; Rainbow Network Communications, its full service network programming origination and distribution company; and 11 Penn TV, a company that manages Rainbow Media’s NYC studios and post-production facilities.

Grace Creek Media
Grace Creek Media is a Washington-based production, distribution and management company whose goal is to create value through the creation, acquisition and development of cross-media properties and branded distribution platforms. Founder and CEO Andrew Walworth has more than 25 years of experience in the television industry, with extensive executive level experience and expertise in creative development, financing, production, distribution, advertising, marketing, and rights management. The company has won numerous awards for its original programs and has produced programming for more than a dozen different cable networks as well as public television.

Press Contacts

  • Rainbow Media
    Georgia Juvelis

    Grace Creek Media
    Christina Mazzanti
    (703) 854-7187

    Alexandra Nicholson
    (703) 854-5872