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In the latest sign of Netflix's film industry ambitions, the streaming giant has scored a movie deal with "Ford v. Ferrari" producer Peter Chernin, people familiar with the matter said Tuesday.
Chernin's company, Los Angeles-based Chernin Entertainment, will make films for the Los Gatos tech and entertainment company, after years producing for 20th Century Fox. The producer's Fox deal ended in January, according to people close to the pact who were not authorized to comment.
A prolific figure in Hollywood, Chernin produced films including the recent "Planet of the Apes" series, "Hidden Figures" and "The Greatest Showman" for Fox, before Walt Disney Co. acquired the storied studio last year.
"Ford v. Ferrari," starring Matt Damon and Christian Bale, was a strong performer at the box office, grossing $225 million in worldwide receipts. The James Mangold-directed film won two Oscars, for film editing and sound editing, and was nominated for best picture.
A former Fox president, Chernin is the latest top film producer to join Netflix, which has spent years courting major talent to fuel the service with movies and series in order to help fend off competition from new streaming services including Disney+ and HBO Max. "Game of Thrones" producers David Benioff and D.B Weiss signed a lucrative film and TV pact with Netflix last year.
Chernin is also a noted producer of television shows, which are not included in the new Netflix deal. His company previously had a deal with Universal Television. In 2017, Chernin and Endeavor Content, the production arm of agency owner Endeavor, partnered to produce and finance TV projects. The company's Jason Momoa sci-fi series "See" debuted on Apple TV+, the Cupertino, Calif.-based tech titan's streaming offering, last year.