Chernin Entertainment Exits Longtime 20th Century Fox Pact

JUSTIN TALLIS/AFP via Getty Images
Peter Chernin

“I have nothing but praise for Disney," said Chernin in a statement. “They were gracious, classy and paved the way for me to continue to build the company however we want.”

Peter Chernin and his Chernin Entertainment banner are exiting their longtime production pact with the Disney-owned 20th Century Fox, The Hollywood Reporter has confirmed. 

Chernin's partnership with 20th Century Fox (newly renamed 20th Century Studios) has spanned nearly a decade with titles that include Oscar-nominated features like Hidden Figures, blockbusters like The Greatest Showman and franchises, including Planet of the Apes.

The partnership has also included box office stumbles, including recent release sci-fi feature Underwater, the latter of which opened to a disappointing $7 million in its domestic opening.

The news comes the same week as Chernin/Fox project Ford v Ferrari, which has made  $111 million domestically, earned a best picture Oscar nomination.

Chernin's exit comes as no surprise to industry insiders as he's had one of the most enviable producing deals in the business, one that didn’t align with Disney’s model. For its part, Disney has not had producing deals like the Chernin/Fox pact in many years as it leaned into a strategy of making less original movies and relying more and more on branded IP and library titles.

The company will retain 70 of the 80-plus movie projects that it had in development at the studio. An in-development project that will remain at Disney is a new Planet of the Apes movie to be directed by Wes Ball. (With last March's 21st Century Fox acquisition, Disney owns the underlying rights to the franchise.) 

Chernin and Disney/Fox have a Fear Street trilogy in postproduction, with the first movie due out in June of this year. It is currently unclear how the releases of these films will be affected by the Chernin departure. 

“I have nothing but praise for Disney," said Chernin in a statement. “They were gracious, classy and paved the way for me to continue to build the company however we want.”