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Cris Abrego and Charlie Corwin have been named co-CEOs and co-chairmen, North America, of the new joint venture that includes Endemol, Core Media Group and Shine Group, the recently merged reality TV global powerhouse.
The announcement Tuesday by London-based Tim Hincks, who was recently named president of the joint venture, makes official many of the duties Abrego and Corwin assumed in early September when they were given oversight of Core as well as Endemol following former NBC executive Marc Graboff‘s exit from Core.
Now Shine will also fall under their purview, assuming the responsibilities of former Disney executive Rich Ross, who left Shine to take over as president of Discovery Channel.
The three companies, at least for now, are expected to continue to operate independently. Endemol, known for reality shows including Big Brother, has begun to expand into scripted shows.
Core controls rights to American Idol and the Elvis Presley estate, among other properties. Shine has shows including The Biggest Loser and MasterChef.
Under the new arrangement, Core Media’s general counsel Peter Hurwitz will now be president. He has been part of the Core leadership since Graboff left.
“Cris and Charlie are exceptionally creative entrepreneurs and leaders who are tremendously respected by the creative community, partners, and colleagues alike,” said Sophie Turner Laing, CEO of the joint venture, and Hincks, in a statement. “Together with Peter we couldn’t ask for stronger executives to spearhead the venture’s U.S. operations into a new phase of creativity and growth.”
In a September interview with The Hollywood Reporter, Corwin talked about the vision for their new roles: “There is a lot of opportunity. We’re in this sort of consolidation crazy moment across all of it. The increased reach, the depth of access we’re going to get and Core is going to get as a result of Endemol’s global distribution network, plugging into our great products and developers around the world, and our ability to deficit finance.”
“Cris and I want people to know that we are a creative company that’s investing in talent and ideas in order to really create intellectual property,” added Corwin. “We have the global heft and infrastructure to monetize that and build 360 degree global businesses, and that’s important.”
The merger with Shine was brought about by Apollo Management, a New York-based investment company, which owns controlling interest in Endemol, and 21st Century Fox (which owns Shine). Apollo and Fox now each own 50 percent of the combined companies. The merger is still subject to regulatory approvals, which are expected by year’s end.
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