Steve Harvey buys stake to join Anthem in takeover of cable networks

Steve Harvey, entertainer and entrepreneur, is buying into a deal to secure a stake of two cable networks, formerly owned by Mark Cuban.

Kia Morgan-Smith

Sep 10, 2019

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Steve Harvey is buying into a deal to secure a stake of two cable networks, formerly owned by Mark Cuban.

Harvey whose recent Steve show was cancelled by NBCUniversal, is making a major move to takeover a slice of AXS TV and HDNet Movies along with Anthem Sports & Entertainment which is acquiring a majority in the two networks, according to Deadline.

The channels launched in 2001, feature programming in music, sports, lifestyle and the entertainment realm.

AXS TV’s catalogue of entertainment content will remain as part of the deal. HDNet Movies includes films that stems from the 1950s to the 2000s. There are at least 12 million U.S. pay-TV households that utilize the channel, according to reports.

Cuban is still tethered to the network and will remain as an equity partner. In 2012, the networks partnered with AEG.

AEG will continue its role with advertising and sponsorship sales.

“Anthem’s combination of targeted brands, enthusiastic audiences, operational expertise, international footprint and vision makes them an ideal partner to take AXS TV and HDNet Movies to their next levels,” Cuban said.

“My team and I see great opportunity in Anthem,” Harvey said. “They have incredible shows, experiential entertainment, and a huge reach.”

So does that mean we’ll see a resurrection of the Steve show?

Could be since Harvey said he was blindsided by NBCUniversal’s choice to cancel his highly successful show.

Earlier this year Harvey said he heard that Kelly Clarkson was getting his slot for a new daytime talk show, The Kelly Clarkson Show, and expressed dismay over how NBC handled the announcement that his show was being cancelled.

“I’m an honorable guy and I’m just an old school guy and I just thought that you’re supposed to talk to people and go, ‘Look, you’ve been good business for us. This is what we’re thinking of doing. Are you okay with that?’ No, you don’t just put something in the paper and say, ‘I’m gonna make this move right here’ because it’s crazy,” he said. “You look at the numbers on.”

Harvey also said he was looking forward to the next chapter in his life and it looks like this one is a page turner!