US companies strike first-look development deal and reveal plans to integrate IP
Fox Entertainment has extended its spending spree by investing in US-based culinary experience firm Chain.
The deal is going through Fox’s Studio Ramsay Global arm, launched in tandem with the eponymous celebrity chef, and will see Fox and Chain working together on content and potential vertical video series with Holywater, in which the US broadcaster took a stake earlier this month.
Details of the equity stake taken in Chain have not been revealed.
Chain, which was launched by B.J. Novak and is based out of LA , creates unusual dining experiences across the US. Fox described its deal with the company as a “multi-faceted partnership” that includes a first look development deal through content arm Chain Media.
IP integrations through Fox’s portfolio of Gordon Ramsay series and its Bite entertainment platform are also in the works, while Chain will expand its original IP output and develop live experiences tied to the broadcaster’s culinary shows.
Novak said: “No one understands how to turn culinary storytelling into cultural obsession like Fox Entertainment and Studio Ramsay Global. We’re excited to work together to bring Chain experiences to more people.”
Rob Wade, Fox chief exec, told Broadcast International earlier this month that the company was looking to expand its investments and said the Chain deal would further its digital storytelling and content creation strategy.
“Studio Ramsay Global’s far-reaching, growing culinary empire and unmatched digital footprint, together with Chain’s remarkable, proven impact, will strengthen, scale and deepen our connection to food fans everywhere,” he said of the latest deal.
Chain began as a West Hollywood parking-lot pop-up with a Michelin-starred chef cooking chain restaurant classics, before striking partnerships with brands such as Taco Bell, Pizza Hut and Pepsi.
Studio Ramsay Global’s output includes Next Level Chef, Idiot Sandwich and the new Gordon Ramsay’s Secret Service, which became Fox’s most-streamed first-year summer series of the past decade.
Previous Chain investor Connect Ventures is re-investing alongside Fox in the financing round, with other investors including Marshall Sandman’s Animal Capital, Palm Tree Crew, Able Partners and Chrissy Teigen, who also serves as a strategic advisor.
Chain was founded by Novak, producers and entrepreneurs Jack Davis, Abe Burns, Byron Ashley, Michelin-starred chef Timothy Hollingsworth, and Nicholas Kraft, who is chief creative officer.
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