CBS and Imagine Entertainment have entered a new four-year, first-look, co-financing deal for scripted and unscripted television series.
According to Variety, the deal will cover potential content for CBS TV, CBS All Access and Showtime, and CBS Television Studios will serve as the production partner and international distributor for any series produced as part of the agreement.
Imagine, the production company founded and led by Brian Grazer and Ron Howard, produces current shows including Empire on FOX and Arrested Development on Netflix.
“I’ve been friends with Brian for 30 years; he is one of the true creative geniuses in our business,” said CBS CEO Les Moonves in a statement. “I have long admired the company that he and Ron built, as well as the consistent artistry of their work. Imagine Television series always stand out for their quality, creativity and ability to connect with audiences. This agreement aligns our broadcast, pay cable and streaming businesses with a best-in-class partner, and represents another strategic opportunity to own and distribute more content across a dynamic television landscape.”
For Imagine, the deal with CBS comes less than one week after the production company signed another TV content co-financing deal with TVB.
TVB Venture is investing $100 million to be used for the development and production of television projects. For its investment, TVB Venture gets broadcast and distribution rights in China (including Hong Kong and Macao) and Taiwan, while Imagine and TVB will each own 50% of the venture.