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David Nevins’ Billion-Dollar Post-Peak TV Gamble

This week, David Nevins, the veteran Showtime and Paramount Global executive, became C.E.O. of investor Peter Chernin’s entertainment venture, North Road Co. Photo: Emma McIntyre/Getty Images
Matthew Belloni
July 9, 2023

You don’t need me to tell you that the burst of the Peak TV content bubble is being felt acutely across Hollywood. But there’s a growing group that believes the contraction has actually created an opportunity for independent studios that have been squeezed by the global streamers and their desire to own all rights to all content for all time. And this week, David Nevins, the veteran Showtime and Paramount Global executive, joined them, becoming C.E.O. of investor Peter Chernin’s entertainment venture, North Road Co., which launched last summer with a bunch of experienced execs and nearly $1 billion from Providence, Apollo, and the Qataris.