Broadcaster pays $1.58 million to production company
Elisabeth Murdoch’s shingle Shine has settled its dispute with Channel Five over a payment for talent show “Don’t Stop Believing.”
The broadcaster’s owner, Northern & Shell, headed by media mogul Richard Desmond, has paid Shine nearly £1 million ($1.58 million), averting a legal battle with the production company, which had also offered to assist others engaged in similar disputes with Channel Five.
N&S, which bought Channel Five in July, has been slashing costs and intends to change the deals the web makes with independent producers to include a performance-related element.
Stan Myerson, joint managing director of N&S, said last week, “We won’t be afraid to take creative risks of a sort that the previous owner appeared reluctant to sanction, but we will be ruthless in replacing underperforming shows with better material.”