Mark Burnett, Hearst Team Up for Joint Venture
Hearst will acquire a “substantial” stake in his production business, and the venture will create TV, live event and other content across emerging media platforms, including content that leverages Hearst brands.
NEW YORK – Hearst Corp. and Mark Burnett, the TV producer behind such reality hits as Survivor and Are You Smarter Than a 5th Grader?, said Monday they have formed a 50:50 media, production and events-based joint venture, with Hearst acquiring a “substantial” stake in Burnett’s existing production business as part of the deal.
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