E! buys People’s Choice Awards

E! is reported to have paid $8 to $10 million ($AU10-16m) for the rights to the People’s Choice Awards.

The event, which began in 1975, has been broadcast annually on CBS.

The NY Times reports E! had been considering starting its own event for some time but “the notion of starting something from scratch, given the plethora of awards shows out there, was quite daunting,” according to Adam Stotsky, president of E!

Aside from MTV not too many channels own their own awards show of any profile. But Live awards are a big deal in the US, still guaranteeing a hefty audience, media spillage and advertiser interest.

“We live in a time-shifted world where the value of live events has never been greater,” Bonnie Hammer, the chairwoman of cable entertainment at NBC Universal, E!’s parent company, said in a statement. The weight of the company can help promote the show to “take this terrific franchise to a whole new level,” she said.

A broadcast date, host and a possible name change are still being considered.