NEW YORK, Aug. 9 /PRNewswire-FirstCall/ -- Ben Silverman's next generation multimedia studio, Electus, an operating business of IAC (Nasdaq: IACI), today announced that it has entered into an exclusive agreement with the three co-founders and executive producers of 5X5 Media; Craig Armstrong, Rick Ringbakk and Tod Mesirow, whereby Electus will retain exclusive distribution rights to all non-scripted content and programming produced by 5x5 Media. As part of the deal, 5x5 Media will partner with Electus to both create and co- produce original projects across all platforms. Under the terms of the agreement, Electus will have an overall production and distribution deal and will retain rights for projects including digital and television. Electus Distribution will also distribute 5x5 projects internationally and align 5x5 Media with Electus' advertising and marketing partners.
"We are thrilled to be partnered with the 5x5 team. They are fantastic storytellers and we cannot wait to connect them to the Electus platform," said Ben Silverman, founder and CEO of Electus. "Craig, Rick and Tod have been connected to the best shows on television and our initial slate shares that same ambition."
5X5 Media is headed by three veteran executive producers including two-time Emmy winner Rick Ringbakk, four-time Emmy-nominated Craig Armstrong and Tod Mesirow. Each have served as producer for a number of hit television series such as Survivor, Amazing Race, Extreme Makeover Home Edition, Mythbusters, Supernanny and Monster Garage, among others. Most recently, Armstrong received an Emmy nomination for his work on the hit ABC series Jamie Oliver's Food Revolution. An expert in all areas of unscripted programming, 5X5 Media has produced over a thousand hours of television in a variety of genres including competition reality, transformational shows, live stage, comedy, follow-docs, build/process series and adventure travel.
"We could not be more thrilled about our partnership with Ben Silverman and Electus," said Craig Armstrong, co-founder, 5X5 Media. "Combining great studio talent with our hands-on production experience is an incredible combination and we are excited for this opportunity to expand on our work and begin creating great original content alongside the Electus team."
Electus is the first integrated multimedia entertainment studio 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. Headed by Ben Silverman, in partnership with IAC, the studio connects advertisers, distributors and content creators early on in the development process, enabling marketers and advertisers to be a true partner in campaigns and content creation.
IAC operates more than 50 leading and diversified Internet businesses across 30 countries... our mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world. To view a full list of the companies of IAC please visit our website at www.iac.com.
Stacy Simpson/ Leslie Cafferty
(212) 314-7470 / 7326
Sunshine, Sachs & Associates
(212) 691-2800/ (917)748-9830