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Rainbow/IFC buys 5% stake in website IFILM

Rainbow Media Holdings Inc, the Cablevision-owned outfit which manages US cable channel The Independent Film Channel (IFC), has acquired a 5% equity stake in entertainment website IFILM. Rainbow will provide IFILM with on-air promotional time on IFC and the two will exchange content and cross-promote through their web, television and print properties.As part of the agreement, IFC will pay IFILM to develop and produce 26 half-hour episodes annually of a hosted magazine-style ...

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