TORONTO — Alliance Atlantis has purchased 29.9% of Wisdom: The Body, Mind & Spirit Channel, a Canadian digital specialty channel set to launch in the fall.
AAC purchased its stake in Wisdom, which will soon be given a new moniker, from Toronto-based Vision TV Digital Inc, a for-profit subsidiary of Vision TV, a not-for-profit public service broadcaster that focuses on social and humanitarian issues, for an undisclosed amount.
Vision TV Digital was formed to get Wisdom off the ground, and will continue as Wisdom’s lead partner and the channel’s manager. (Other partners are Radio Nord Communications and Renewal Partners .)
“We are confident that, through our new relationship with Alliance Atlantis, we will be able to develop some excellent co-marketing and promotion opportunities with its other specialty channels,” Bill Roberts, Vision TV and Wisdom CEO said in a statement.
In addition, Wisdom Canada will maintain a pre-existing programming partnership with Wisdom Media, U.S., giving it what Roberts terms “the best of both worlds.”
Alliance Atlantis has an ownership stake in eight Canadian specialty channels, including Home & Garden Television (HGTV), History Television and Food Network Canada. The Toronto-based company also has been granted digital specialty licenses for a series of new channels, including Health Network Canada, National Geographic Canada, and BBC Canada.
Wisdom is a complementary fit, says CEO of AAC Broadcasting, Phyllis Yaffe, “with our entire lifestyle category of channels that are designed to inform and entertain Canadians about all aspects of healthy living.”
As part of the deal, Alliance Atlantis has the option of purchasing another 3.4% of the company.