Summary:

After more than a year of battling, NBC Universal (NYSE: GE) and the Weinstein Company have reached a settlement over Project Runway that wi…

imageAfter more than a year of battling, NBC Universal (NYSE: GE) and the Weinstein Company have reached a settlement over Project Runway that will allow the reality TV program to walk over to Lifetime Networks. As part of the settlement, Weinstein, the show’s producer, will pay NBCU an undisclosed amount. The cable network issued a statement saying that the show, which is hosted by supermodel Heidi Klum, will begin its run on Lifetime this summer. Back in September, the New York State Supreme Court sided with NBCU, granting the network a preliminary injunction that said the network might be able to prove in court its claim that it legally had first refusal for renewing the show. Initially, Weinstein wanted Runway to move from NBCU’s Bravo to the ABC-Hearst-owned Lifetime for its sixth season in November. NBCU also had to put up a $20 million bond — 10 percent of what Weinstein said the deal with Lifetime is worth.

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