Former CNN President Jeff Zucker, who resigned from the network over an undisclosed affair, is investing in a Hollywood program through his venture company.
Zucker announced his plans Thursday to invest in MediaRes’ hit program, “The Morning Show,” on Apple TV+ through RedBird IMI, a joint venture company he founded in 2022, according to The New York Times. This move is his first direct involvement in Hollywood scripted programming since he held a leadership role in NBCUniversal’s entertainment branch in the early 2000s.
The founder and chief executive of MediaRes, Michael Ellenberg, will resume a majority of ownership and leadership in the studio, according to the Times. He said Zucker’s investment in the program would open the doors to hiring more people to expand the studio on a domestic and international level.
New: Jeff Zucker is investing in Media Res, the Hollywood studio behind “The Morning Show.” It’s the latest bet by his venture fund, RedBird IMI. https://t.co/y1dNdAaOFq
— Michael M. Grynbaum (@grynbaum) January 4, 2024
“The Morning Show,” starring Jennifer Aniston and Reese Witherspoon, premiered in 2019 and dives into the lives of individuals working in the early morning television industry, according to the Times. Ellenberg secured $240 million for two seasons of the show. (RELATED: REPORT: CNN Gives Jeff Zucker Huge Payday To Go Away)
“I’ve seen all three seasons, every episode,” Mr. Zucker said about the show. “Parts are absolutely realistic; the cutthroat nature of morning television is captured incredibly well. Other parts are an arch fantasy that can only be created in a writers’ room somewhere, and are fantastic.”
“Even if it’s not at the level it’s been historically, there’s still going to be a desire for prestigious scripted programming,” Mr. Zucker said about recent television successes in Hollywood. “We think Media Res is in the sweet spot of where success will come in the next decade.”
This is the latest of Zucker’s major career moves since his resignation from CNN in February 2022 over a relationship he did not disclose. Zucker had a secret romantic relationship with former CNN chief marketing officer Allison Gollust, and left the network once the relationship had been disclosed.
Chris Licht soon replaced Zucker as the new president, who left his position in early June after experiencing historically low ratings and profitability. The staggering low ratings and profits led to mass layoffs of anchors, reports and contributors.
Zucker’s company, RedBird IMI, is a joint venture between private equity firm RedBird Capital and a private equity firm run by an Emirati royal named Sheikh Mansour bin Zayed al Nahyan, according to the Times. The company has invested in Hidden Pigeon, a children’s entertainment company, sports news and a documentary studio.
It is further attempting to take over The Daily Telegraph, a newspaper based in London, according to the Times.