Two of the television industry’s biggest names are forming a company to produce TV programs, movies and Internet entertainment, according to people familiar with the plan, the Los Angeles Times reports.

Gail Berman, who stepped down two weeks ago as president of Paramount Pictures, is teaming up with Lloyd Braun, the former ABC Entertainment chairman who had recommended Berman for her previous job.

The new venture, to be called BermanBraun, will initially focus on TV production, the Internet and movies, but could expand into producing stage productions and video games, according to the Times.

Before joining Paramount two years ago, Berman built the Fox broadcast network into a ratings juggernaut with such hit shows as “24,” “House” and “American Idol.” Before being forced out of Walt Disney Co.’s ABC in 2004, Braun came up with the concept for “Lost” and recruited hotshot writer-director-producer J.J. Abrams to develop the show.

The two are looking for a studio home for the company and are in discussions with 20th Century Fox, Warner Bros., CBS Corp. and NBC Universal, among others, the paper reports.