NEW YORK, July 27 (UPI) -- IAC and U.S. media entrepreneur Ben Silverman announced Monday they are forming a new multimedia company.
The new venture is intended to capitalize on the "ever-evolving world of multimedia production and distribution, leveraging unique marketing expertise," the parties said in a release.
The company, which will be headed by Silverman, is expected to "unite producers, creators, advertisers and distributors under one roof and produce all forms of content for distribution across a variety of platforms around the world."
"This new venture will take full advantage of all areas of Ben Silverman's extensive media expertise -- as an agent, producer and advertising innovator -- to create a truly integrated and truly interactive new media production entity, a next generation enterprise that bridges the gap between traditional television and the Internet," IAC Chairman and Chief Executive Officer Barry Diller said in a statement about Silverman, who recently served as co-chairman of NBC Entertainment.
"Media is being consumed across an increasing number of platforms, including TV, the Internet, mobile and DVR. The next generation of media will be defined by the players who can capitalize on those trends and deliver integrated, compelling content across all platforms," Silverman added. "Uniting advertisers and content creators will fundamentally improve quality and enable a fluid production and distribution model."
NBC Universal will continue to have a relationship with Silverman via the new venture through platform partnerships and a potential investment in the enterprise, IAC said.
The Los Angeles Times reported Jeff Gaspin, former boss of NBC's cable group, will become the top television entertainment executive at NBC in the wake of Silverman's departure.
NBC Universal Chief Executive Officer Jeff Zucker said in a statement Gaspin has "the business acumen necessary to succeed in today's media environment," the Times said.
