June 16, 2014 9:20am PT by Lacey Rose
Condé Nast Entertainment, 20th TV Ink First-Look Deal
Twentieth Century Fox Television is getting into business with Condé Nast.
The studio has inked a first-look deal with its entertainment arm, aptly titled Condé Nast Entertainment. As part of the pact, scripted broadcast shows based on the company's media brand will be developed at 20th TV, while cable entries will be funneled through Fox 21. This is the first deal of its kind of CNÉ, which under former CW chief Dawn Ostroff is envisioned as a potentially lucrative supplement to the traditional role of magazine publisher. With the latter's declining print revenue, the Hollywood veteran has looked to add revenue from TV, film and digital projects.
“My professional and personal relationships with Dawn have spanned the past two decades. She’s one of the most talented executives I’ve ever worked with and is also a close friend," noted 20th TV chairman and CEO Dana Walden in a statement announcing the news Monday. "Creating a business opportunity together now that she’s at Condé Nast -- a brand we’ve long admired -- was a huge priority for us both. We think this partnership has incredible potential.”
Added Fox 21 president Bert Salke: “Dawn's a brilliant executive with great taste, and the Fox 21 and Condé Nast brands of provocative, groundbreaking storytelling are quite simply a perfect fit. We can’t wait to get started.”
The news comes as CNÉ continues to build out its programming slate, with a trio of series -- Vanity Fair Confidential on Investigation Discovery, The Fashion Fund on Ovation and Geeks Who Drink on Syfy -- on the air this year. Gina Marcheschi, CNE's VP of scripted television, will manage the partnership with 20th.
“Twentieth Century Fox Television and Fox 21 have a true commitment to quality storytelling that has resulted in some of the most popular and acclaimed television today," said Ostroff, who joined Condé Nast in the fall of 2011. "Pairing that with CNÉ’s incredible archive of rich storytelling and iconic brands as source material is a powerful combination."
CNÉ was repped in the deal by CAA and attorney Sam Fischer.