Ben Silverman will be leaving his job as co-chairman of NBC Entertainment and Universal Movie Studios to head a new venture with Barry Diller's IAC/InterActiveCorp focusing on producing and distributing multimedia content.

NBC named Jeff Gaspin, president and chief operating officer of the company's cable entertainment group, to replace him. Gaspin also will keep his current duties as the new chairman of NBC Universal's television entertainment unit.

IAC said Monday it is forming a new production company led by Silverman that will look to bring advertisers into further into the development process on new media products. Silverman, who started as co-chairman of NBC in June 2007, will continue to have a relationship with the network through its new company. He plans to stay on for the next few weeks to help with the transition.

- Read the full Associated Press story.

- Read the full Variety story.

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