CBS Corp. & Imagine to Co-Finance, Co-Produce TV Projects

CBS Corporation and Imagine Television Studios have entered into a four-year co-financing and first-look agreement for TV series.

Imagine, founded and led by Ron Howard and Brian Grazer, will be partnering with CBS to co-produce and co-own programming for the CBS Television Network, CBS All Access and Showtime, as well as for non-CBS affiliated platforms. This covers scripted and unscripted television and long-form digital programming. The CBS Corporation platforms will have the first look at new Imagine Television series, with CBS Television Studios serving as a production partner and CBS Studios International as the worldwide distributor for programming produced as part of the agreement. Imagine will retain distribution rights in certain Asian territories, including China, Taiwan, Hong Kong and Macau.

Grazer, Imagine Entertainment’s chairman, commented: “I am so excited for this partnership with Les[lie Moonves, CBS Corporation’s chairman and CEO], someone I deeply respect and admire, and with whom I share a decades-long friendship. For the past 30 years, the hallmark of Imagine’s success has been in cultivating storytellers to create aspirational, exciting and unique films and television series. We intend to sign exclusive overall deals with inventive talent, including writers and filmmakers, to create a modern content studio that values collaboration with autonomy.”

“I’ve been friends with Brian for 30 years; he is one of the true creative geniuses in our business,” said Moonves. “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.”

Francie Calfo, the president of Imagine Television, added: “While Imagine continues to evolve our presence and reach as producers and a studio, we are thrilled to have the partnership and support of CBS Corporation. It 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.”

The CBS Corp. deal follows on Imagine’s recently announced $100-million co-financing deal with TVB Ventures for the development and production of TV projects.