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CBS, Imagine ink co-finance deal

Ron Howard (left) and Brian Grazer

US broadcaster CBS has struck a four-year co-financing and first-look agreement with Brian Grazer and Ron Howard’s Imagine Entertainment to cover scripted and unscripted programming, as well as longform digital.

The deal will allow Imagine to partner with CBS to coproduce and co-own programming for the CBS network, its streamer CBS All Access and cablenet Showtime.

CBS will have the first look at new Imagine TV series, with CBS Television Studios serving as a production partner and worldwide distributor. Imagine will retain distribution rights in certain Asian territories, including China, Taiwan, Hong Kong and Macau.

Imagine Entertainment chairman Grazer said his company “intends to sign exclusive overall deals with inventive talent, including writers and filmmakers, to create a modern content studio that values collaboration with autonomy.”

Les Moonves, CBS Corporation chairman and CEO, added: “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.”

Imagine Television president Francie Calfo said the deal “allows us the amazing opportunity to work with the talented and respected executives at CBS in developing hit shows for their diverse portfolio and the ability to further our reach into all areas of cable and digital. Both these options make us a great home for talent.”

Imagine’s slate includes Empire for Fox, Arrested Development for Netflix and Genius, Mars and Breakthrough for National Geographic Channel.

The deal comes less than a week after Imagine agreed a US$100m TV production pact with China’s TVB Ventures. The co-financing agreement, which sees TVB and Imagine each owning 50% of the venture, will lead to the US company developing and producing shows with the Hong Kong-based outfit.

Last year Imagine received a US$100m investment from Raine Group.

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