Hearst buys half of Mark Burnett Productions, but not Survivor or Apprentice
The Hearst Corporation has bought half of Mark Burnett Productions, but will not own any part of Survivor or The Apprentice. Everything else he produces will, however, including Shark Tank and the upcoming X Factor clone The Voice.
Burnett “had been trying to sell his company for several years, particularly as he struggled to develop a new blockbuster hit,” the Los Angeles Times reports. But he told the newspaper, “I’m looking for that next act in my career. And Hearst provides a big burst of energy and the ability for me to work with new people.”
Hearst owns a lot of media properties: In addition to its newspapers and magazines, Hearst owns part of cable networks including Lifetime, History, A&E, and ESPN. Hearst’s Scott Sassa told the paper, “We were not looking to be in the television production business. … The one thing that is certain is: Good content will continue to be critically important no matter what’s on the screen.”
The company will now “focus on media content, producing events around that content, and spinning off television shows and other programming for new and emerging platforms based on Hearst brands, while expanding Burnett’s domestic and international production business,” according to a press release.