3D TV Network To Hit Airwaves

IMAX Corporation, Sony and Discovery Communications announced a joint venture to start the first 24-hour, 3D-only television network.

The network will carry a combination of documentary films and entertainment from Discovery, Sony, IMAX and other studios. Discovery Chief Operating Officer Tom Cosgrove will be the network's general manager, reporting to a board of directors with members from all three companies.

IMAX Chief Financial Officer Joe Sparacio announced his company's role at the UBS Global Technology and Services Conference in New York. "IMAX is providing a strategic contribution to the venture," Sparacio said.

"We're going to provide our content library of 3D films as well as our expertise in converting 2D to 3D and in 3D filming."

Sparacio said the network will be funded by advertising and subscriptions. Sparacio said Discovery will be leading the distribution of programming, while Sony will be managing the advertising and sales.

Sony Pictures and Entertainment will be leading the parent company's involvement, Chief Executive Officer Michael Lynton said.