MTV2, THE BOX TO MERGE

MTV Networks' MTV2 unit is expected to merge with The Box Music Network in an attempt to combine the best elements of each channel, sources told hitsdailydouble.com Tuesday (8/22). Official word of the alliance is expected shortly.

Both MTV2's David Cohn and The Box's Peter Cohen will be involved in the new joint venture, sources said. However, as a result of the merger, The Box will be downsized and possibly shut down by year's end, according to sources. Some Box staffers in Miami, the company's headquarters, will be relocated to New York where MTV is housed. Others will be given their walking papers.

"Our ultimate goal is to create one strong and well-distributed network that will combine the best of both services," said The Box President/CEO Alan McGlade in a statement.

MTV Networks purchased The Box in 1999. The channel, previously owned by TCI, reaches approximately 24 million U.S. households, according to The Box.