NBC Entertainment co-Chairman Ben Silverman on Wednesday sold his television production company to London-based Shine Ltd., owned by media baron Rupert Murdoch's daughter Elisabeth, for $125 million.
Formed in 2002, Reveille is one of the few major independent TV companies that has flourished in an era when media giants control both entertainment production and distribution.
Silverman said the sale was bittersweet. "I love Reveille. It was my baby, and a huge amount of energy, commitment and life force went into building it," Silverman said in an interview. "But I realized that I just wanted to focus 100% on NBC."
The transaction resolves some of the conflicts of interest posed by Silverman's dual role. Until the sale, Silverman had served as the top programming executive charged with picking shows for NBC's prime-time schedule and had been the sole shareholder of Reveille -- an arrangement approved by NBC when it hired the 37-year-old producer in June.
During the last nine months, Reveille has blossomed into one of NBC's most important programming suppliers. It has sold at least 14 shows and scripts to NBC for its prime-time schedule since Silverman joined the network. The flurry of sales boosted Reveille's assets and value.