Movieola gives Propeller a spin

Plan is to migrate short-film programming

TORONTO -- Canadian short-film channel Movieola has acquired a majority stake in British counterpart Propeller TV, it was announced Monday. Movieola parent Channel Zero, based in Toronto, did not release terms of the deal.

The plan is to migrate Canadian and international short-film programming onto Yorkshire-based Propeller, which launched in February 2006 and reaches 8 million Sky subscribers.

The deal, subject to board approval by both companies, is expected to close in November.