Complex sentence: In 1995, Redford signed a deal with Showtime to start a 24-hour cable television channel devoted to airing independent films--the Sundance Channel premiered on February 29,1996.
Split into simpler sentences: In 1995, Redford signed a deal with Showtime to start a 24-hour cable television channel devoted to airing independent films. The Sundance Channel premiered on February 29,1996.