Los Angeles - The premium movie channel joint venture between Viacom/Paramount Pictures, MGM and Lionsgate, has received about $34 million so far from its partners, PaidContent reported, citing a regulatory filing.

Lionsgate, which holds a 28.57% stake in the venture, has so far invested $8.6 million; if the proportions hold for the other partners, then about $34 million has so far been sunk into the project.

Lionsgate also noted that its position requires a mandatory commitment of at least $31.4 million, and $42.9 million if milestones are achieved.

Based on the same proportions, PaidContent again extrapolated that total investment by all parties in the yet-to-launch movie channel could reach as much as $150 million.

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http://snipurl.com/26ck7 (DMW previous coverage)