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Warner Cable brought in American Express as an investor, and the two companies formed Warner-Amex Cable Communications with a widely-recognized board of directors, including American Express chairman Jim Robinson and President Lou Gerstner, and the former head of Shearson/American Express, Sanford Weill. Warner bought out American Express after ...
As a result of these actions, Warner Cable Communications would then be rebranded as Warner-Amex Satellite Entertainment, becoming a joint venture between Warner Cable and American Express. In 1980, Warner-Amex formed a joint venture with Cablevision's Rainbow Media division to launch Bravo, a cable network dedicated to arts and films, on ...
On September 14, 1979, American Express reached an agreement with Warner Communications to buy 50% of Warner Cable Corporation for $175 million in cash and short-term notes.
In 1979, Warner formed a joint venture with credit card company American Express called Warner-Amex Satellite Entertainment. This company owned such cable channels as MTV , Nickelodeon , The Movie Channel , and VH1 (which was launched in 1985 on the channel space left by Turner 's Cable Music Channel ).
In 1979, executives at the newly formed Warner-American Express Satellite Entertainment Company felt teenagers were an overlooked and potentially lucrative audience, and hoped to develop a television format to target them. [2] MTV's original format was created by the executive Robert W. Pittman, later the president and CEO of MTV Networks. [3]
Through the formation of the joint venture, which was incorporated in December 1979, Star Channel and Nickelodeon were folded into Warner-Amex Satellite Entertainment (later Warner-Amex Cable Communications), a company which handled the operations of the group's cable channels (Warner Cable was folded into a separate jointly owned unit, the ...
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In 1979, needing financing to further expand its cable television business, Ross partnered with American Express, convincing its executives on the potential of selling AmEx credit cards direct to Warner cable TV customers. Warner-AmEx Cable was established and Warner received a much needed capital injection. AmEx's cross-sale expectations never ...