CMM Music Channel plans to enter into an agreement with Popular Entertainment Network (PEN) where the new partner will handle the channel’s content, equipment and manpower requirements. The revenues will be shared equally between CMM Broadcasting Network and PEN. PEN, will not service the past liabilities of CMM Music Channel.
CMM Music will be revamped on June 24 with a new look and the PEN logo will be added to the channel. It will become PEN Music Channel on CMM Broadcasting Network The deal will involve no cash transaction. PEN will get a share in the revenues in lieu of its content. CMM will continue to bear the transponder and uplinking costs. The distribution expense will be shared between CMM and PEN.
The music channel plans to introduce trade news and PEN will arrange to play songs exclusively on it. The two companies are discussing other content they can put on the channel.