“Viacom and Bad Boy Records have agreed to pay $7.5 million to the bankruptcy trustee of Trans Continental Television Productions to resolve a dispute that arose when P Diddy took the reins of MTV’s Making the Band from boy band impresario Lou Pearlman. The settlement agreement has been blessed by a bankruptcy judge and cuts short a three-week trial that was scheduled to begin this month.
Pearlman was the founder of Trans Continental and hit it big by forming the Backstreet Boys and ‘N Sync. In 1999, he starred in the initial season of Making the Band, a reality show where contestants attempted to show they had what it took to be in a superstar boy band. The first two seasons were broadcast on ABC before the show transitioned to MTV.
On MTV, the boy band format continued for another season, but at the same time, the network ordered a new iteration of Making the Band that featured P Diddy doing a search for hip hop talent. The Diddy format would last several more seasons. . .”
THR, Esq. has the full story.