Ryman Hospitality Properties To ‘Wind Down’ Joint Venture Ownership In Circle
In its third-quarter financial report released Monday (Nov. 6), Ryman Hospitality Properties shared that it will “wind down” its joint venture ownership in the country lifestyle television network Circle Network.
The report says, “In September 2023, we determined to pivot from television network ownership in favor of a distribution approach. Therefore, we and our joint venture partner agreed to wind down the Circle joint venture, with operations expected to cease December 31, 2023. As a result, we incurred a loss related to Circle of approximately $10.6 million in the three and nine months ended September 30, 2023.”
Circle Network was launched in early 2020. Its programming includes a weekly broadcast of the Grand Ole Opry, hosted by Bobby Bones, as well as a broadcast of WSM’s Coffee, Country & Cody morning show and other country lifestyle programs.
“The Circle brand isn’t going away. The linear TV network will wind down at the end of the year along with the joint venture. Programming like Opry Live and Coffee, Country & Cody will continue to be produced and made available digitally on FAST, streaming and other digital distribution platforms. We also expect Opry Live to air on network television, just not on a dedicated Circle network. Opry Live will also air on Sky Arts in the U.K.,” a Ryman Hospitality spokesperson shared with Country Aircheck.
