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The actor and producer has renewed his overall deal with the independent studio.
Under the pact, Arnett and his Electric Avenue banner will continue to develop and executive produce new scripted and unscripted projects for the studio.
The news comes after ABC recently renewed its reboot of The Gong Show for a second season. The unscripted entry is one of many projects in the works at Electric Avenue. The company, under president Marc Forman and director of development Evan Thompson, has produced two seasons of Flaked for Netflix, and has relationship comedy Hot Date at Pop and digital talk show Game Chat for Xbox. A scripted comedy is also in the works at Comedy Central. What’s more, TBS is developing a new animated comedy with Mike Royce and Alex Cline writing for Electric Avenue and Sony.
Arnett is repped by WME, Principato Young and Sloane Offer.
His deal comes as studios are increasingly trying to lock down top talent as streaming giants are shelling out millions to lure showrunners as the war for talent continues to heat up after Netflix poached Shonda Rhimes and Ryan Murphy from ABC Studios and 20th Television, respectively.
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