American Idol producers Fremantlemedia are reportedly in talks with NBC to bring the iconic show back to television.
But before that happens, a few legal issues have to be sorted out. On Thursday, U.S. Bankruptcy Court judge Stuart Bernstein signed off on an amended agreement between 19 Entertainment and FremantleMedia Limited, according to the Hollywood Reporter.
According to court papers, the agreement “memorializes the parties’ intention to re-launch American Idol on American television by seeking a new license agreement with a broadcaster, network or other platform subject to various terms and conditions.”
First, however, FremantleMedia had to come to a deal with the show’s other producer, 19 Entertainment, which filed Chapter 11 last April shortly after the fifteenth season of the show. Five months after the bankruptcy filing, deals with lenders reduced about $385 million in debt, and 19’s reorganization plan was approved.
FreemantleMedia and 19’s owners then spent months trying to work out an agreement that dealt with such lingering issues as digital rights and co-owned collateral. Once the parties signed, the deal was taken back to the bankruptcy judge so that it would be assumed post-bankruptcy. Although there’s been reported discussions with NBC, the deal appears structured to at least contemplate the possibility of a re-launch on a digital platform rather than television.
One huge change the deal brings: It’s now NEG Operations, Inc, which will be a successor-in-interest to 19’s rights to American Idol. In other words, if the show is relaunched, that name will be listed in the credits rather that 19 or Core Media.
However, although the parties involved have come together on how to revive American Idol, there’s still litigation pending directed at Fox, Endemol and a big private equity firm over the way assets were allegedly stripped from Core Media Group, parent company of 19.
