WebProNews

Ben Silverman, co-chairman of NBC Entertainment, is leaving the company in the fall to start a new venture with Barry Diller's media and Internet company, IAC.

NBC has named Jeff Gaspin, chief operating officer of Universal Television Group, as chairman of NBC Universal Television Entertainment.

Ben Silverman
NBC Entertainment

The new venture, which does not yet have a name, aims to bring producers, writers, advertisers and distributors under one roof and create all forms of content for distribution including television and online mediums.

"This new venture will take full advantage of all areas of Ben Silverman's extensive media expertise - as an agent, producer and advertising innovator - to create a truly integrated and truly interactive new media production entity, a next generation enterprise that bridges the gap between traditional television and the internet," said Barry Diller, IAC Chairman & CEO.

IAC will provide initial capital to the venture, though it will not be consolidated with the company's financial results.  Additional terms of the venture are not being disclosed.

NBC Universal will continue to work with Silverman via the new venture through platform partnerships and a possible investment in the enterprise.

"Media is being consumed across an increasing number of platforms, including TV, the internet, mobile, and DVR. The next generation of media will be defined by the players who can capitalize on those trends and deliver integrated, compelling content across all platforms," said Silverman.

"Uniting advertisers and content creators will fundamentally improve quality and enable a fluid production and distribution model."