Hearst and Mark Burnett announced a media, production and events-based joint venture Monday that will focus on media content, producing events around it, and spinning off television shows and other programming based on Hearst brands.
The deal includes Hearst acquiring a substantial interest in Burnett's production business. No terms were disclosed.
Source: http://www.thewrap.com/movies/article/mark-burnett-hearst-announce-joint-venture-26327
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