It began broadcasting in November 2002 on SKY Network Television.

Rialto developed from the Sundance Channel, owned by David Ross, entertainment entrepreneur John Barnett, businessman Wayne Brown and Peter Francis.

In 2002, the latter three sold shares to Hawken, who has since owned the channel 50:50 with Ross.

The channel screens films, documentaries and general entertainment programming.

The channel has at times sponsored the New Zealand Film Awards.