The Heidi Klum-hosted Project Runway has been one of the top shows on cable in recent years, providing General Electric (NYSE: GE)'s NBC Universal's Bravo network with a big hit. The show features up and coming designers competing for cash and an opportunity to launch their own line with a major fashion house.Now the show's producer, Weinstein Co., wants to elope with Lifetime Networks. NBC has filed a lawsuit against Weinstein, alleging that the producer violated Bravo's right to buy future seasons of the show. For its part, Weinstein argues that it never granted Bravo a right of first refusal, which would have required it to get Bravo's permission before going a courtin' for a new network.
If Bravo lets this show slip away, it will be a huge mistake. Given Bravo's strong brand, you have to think that it can attract more viewers with the show than Liftetime -- meaning that it should be able to outbid Lifetime for the rights. It's not like ABC came along and offered the show a network primetime slot.
In the press release announcing the deal with Lifetime, Weinstein said that it wanted to "sincerely thank NBC Universal and Bravo for all their contribution and support." Apparently, this lawsuit is Bravo's way of saying you're welcome.
As executive producers and hostesses of America's Next Top Model and Project Runway, respectively, Tyra Banks and Heidi Klum have proven that they are much more than just the pretty faces that catapulted them both to fame and fortune on the runway and in the pages of fashion magazines. On the former show, contestants long to hear their mentor, "Miss Tyra," tell them they are "still in the running to become America's Next Top Model." Runway contestants are informed that "You're either in ... or you're out" and cringe if they hear German-born Heidi eulogize: "I'm sorry, you're out ... auf wiedersehen."
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