CBS Buys Stake in Kapital Entertainment, Forms JV


STUDIO CITY: CBS Corporation has purchased an ownership stake in Kapital Entertainment and will provide co-financing to invest in its future programming and serve as its worldwide distributor.

Kapital will continue to operate as an independent production entity, separate from CBS Television Studios and the CBS Television Network. Founder Aaron Kaplan will continue to run Kapital Entertainment as its CEO.

The first project to come out of the partnership is the Dana Klein and Mark Feuerstein pilot 9J, 9K and 9L, which is being co-produced by Kapital with CBS Television Studios for CBS.

“CBS is a content company, and this new venture immediately establishes another source to create more programming assets for our distribution pipeline,” said Leslie Moonves, the chairman and CEO of CBS Corporation. “Aaron is a talented and creative producer, a skilled program packager and a very smart businessperson. We’re excited to build this partnership together.”

“This venture enables Kapital to continue matching a creator’s vision to the broadcast, cable or streaming home best suited for their project,” added Kaplan. “And we will continue to work with all of our valued studio partners in the process. At the same time, I have the support of an incredible media company at CBS Corporation, led by Leslie Moonves, whose creative and business accomplishments are unmatched.”