CAP CITIES TO CREATE TV STUDIO

NEW YORK--Capital Cities/ABC Inc. and the entertainment entity created by Steven Spielberg, Jeffrey Katzenberg and David Geffen are going into business together.
They have formed a partnership to create a new television studio to develop and produce a wide range of programming for all major distribution outlets. The new venture--which will produce programming for TV networks, cable services and original product for first-run syndication, as well as for other media--will be owned and financed equally by Capital Cities/ABC and Spielberg-Katzenberg-Geffen.
All parts of the broadcast day will be included: prime-time series as well as morning, daytime and fringe hours. Television movies and miniseries will also be produced.
The agreement was announced at the Capital Cities/ABC offices here by Robert A. Iger, president and chief operating officer of Capital Cities/ABC, and Spielberg, Katzenberg and Geffen.
"This is a significant step for our company, one that affords us the opportunity to accomplish an important goal: to own more programming," said Iger.
All parties to the joint venture have committed for an initial seven-year period. The studio will be managed as a separate independent entity, with a senior executive overseeing day-to-day operations.
Capital Cities/ABC is the parent company of WWD.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus