Fox and Imagine Television Sign Deal With Netflix To Create New Episodes Of Arrested Development
Netflix, Inc. (NASDAQ:NFLX), Fox, and Imagine Television has signed a deal to develop new episodes of Arrested Development. The new episodes will be available exclusively to Netflix subscribers in the first half of 2013. Fox and Imagine will be co-producing the episodes together. Netflix is covering a large portion of the production costs.
Arrested Development show creator Mitchell Hurwitz said that the movie for the show is still in progress. The new episodes of the show will be developed as an introduction to the movie.
Arrested Development was cancelled in 2006 due to low performance. However the show really picked up steam on Hulu and Netflix since then. Netflix is hoping that they will gain back some of their subscribers that they lost after adjusting their prices.
[WSJ]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry