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MANCHESTER UNITED TEAMS WITH BSKYB AND GRANADA ON TV CHANNEL

          Manchester United will establish its own TV channel,
     according to Patrick Harverson of the FINANCIAL TIMES. 
     United CEO Martin Edwards said the team will set up MUTV in
     a joint venture with BSkyB and the media group Granada. 
     Under the deal, BSkyB and Granada "will provide the bulk" of
     the $16M-plus "development costs of the channel, which will
     be sold to subscribers via digital and satellite services
     from next autumn.  The three partners will share income from
     the venture equally, while United will also receive a
     royalty on every subscription sold" (FINANCIAL TIMES, 10/1).
          REAX: The TIMES' "Lex" column writes that since the
     United does not hold rights to live telecasts of its current
     games, the "channel will have to survive on the thin gruel
     of classic re-runs, player interviews and reserve games." 
     Early annual revenues are not expected to exceed more than
     $4.8M.  The channel's "true worth will become evident only"
     when the Premier League's TV contract with BSkyB is
     renegotiated.  That will allow United to gain in a new deal
     or "strike out on its own" (FINANCIAL TIMES, 10/1). 

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