The Popcorn Channel, the movie trailer and theater listings service that was poised to have its plug pulled Saturday, was given an 11th-hour reprieve thanks to a cash infusion from an unidentified Canadian investor, and remains on the air for its nearly 3 million cable subscribers.
According to sources, the channel will stay on the air through Dec. 31 and possibly beyond, though the timetable is uncertain. Only four full-time employees remain in place at the channel’s New York and Los Angeles offices from an original staff of more than 50.
Calls to the channel Wednesday seeking comment were not returned.
Since its start-up a year ago, Popcorn Channel has struggled with mismanagement and financial insolvency after being launched jointly by partners Torstar Corp., the New York Times and Salter Street Films Ltd.