L.A. production company Participant Media announced its plans on Wednesday to launch a new cable channel called Pivot.

The announcement was made at an upfront presentation to advertisers in New York, where Participant laid out plans for a channel it hopes will appeal to the 18- to 34-year-old demographic, the so-called millennials. Participant said Pivot will launch on Aug. 1 and would reach more than 40 million homes.

The channel has given the green light to six original series, including live talk show “TakePart Live,” as well as a variety show created by and starring actor Joseph Gordon-Levitt, “HitRECord on TV!”

It is Participant’s first major foray into the television business, after having been involved in the production of 43 movies, including “Lincoln” and “The Help.” The company was founded in 2004 by Internet entrepreneur and philanthropist Jeffrey Skoll with the goal of creating socially conscious content.

Participant also announced Wednesday that Pivot has struck a multi-platform promotional, marketing and content alliance with Rolling Stone magazine.