MTV networks has sold Tempo, the first and only 24-hour Pan-Caribbean Cable Television Network, to a group of investors headed by founder and the newly appointed chairman and chief executive officer, Frederick A. Morton, Jr.

Morton founded tempo while he was employed at MTV networks. Terms of the deal, which closed on November 8, 2007, were not disclosed.

Tempo networks, the first and only 24-hour, Pan-Caribbean Cable Television Network, features a dynamic mixture of programming centered on Caribbean music and culture.

The channel was launched by MTV networks in November, 2005. Since then, the company has obtained cable distribution in 25 islands, reaching nearly 400,000 households and an estimated 1.6 million viewers.