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[adult swim] is the home for mature animation/absurd programming.

A trend that has occurred on specialty television is the abolishment of segmentation -- in other words, TV channels airing a specific type of programming 24/7. With limited exception, the expectation is you will see the same types of programs on a specific cable channel whenever you tune in. No 'blocks' for alternate audiences. I suspect it's what advertisers desire, and was the rationale for the [adult swim] channel launch to replace the programming blocks that aired on Cartoon Network and Teletoon. Putting it in line with every other kids channel operated by Corus and Wildbrain.
 

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Even if Teletoon was sold to a different company, there's no guarantee they'd want to air adult animation. Family Guy, King of the Hill, Rick & Morty plus the rest of the Adult Swim catalogue would still be controlled by Corus. What would that leave them with? Second window Netflix shows and anime? That wouldn't resemble your beloved Teletoon at Night at all.
Exactly the point! There really isn't any segmentation among cable channels anymore. Any particular channel will now air programs for a specific demographic 24/7, much to the desire of advertisers who are looking to promote their wares to a particular target market (of course on the internet, this can be done more efficiently than by purchasing ads on channels with national reach).

Anyone remember the days when Family Channel would air shows like The George Burns and Gracie Allen Show or B&W films that were targeted to seniors? In those early days of limited analogue bandwidth and where the launch of a cable channel was a high-stakes gamble, something like segmented programming was a method channels used to best use their infrastructure to attract cable subscribers, and furthermore advertisers, for the final success of their investment. In a 500-channel digital universe, you can now target on a per-channel basis.
 
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