UNIVERSAL MEDIA STUDIOS ENTERS AN OVERALL DEVELOPMENT DEAL WITH GARY SANCHEZ PRODUCTIONS TELEVISION FROM WILL FERRELL AND ADAM MCKAY

UNIVERSAL CITY, Calif. - August 1, 2011 - Universal Media Studios signed an overall development deal with Gary Sanchez Productions Television from executive producers Will Ferrell and Adam McKay (producers of "The Other Guys," "Anchorman: The Legend of Ron Burgundy," "Eastbound and Down," creators of the Funny or Die video website, among other projects).

The announcement was made today by Robert Greenblatt, Chairman, NBC Entertainment.

"This development deal with Will and Adam is a major step forward for our studio," said Greenblatt. "They know how to make people laugh, aren't afraid to take risks, and are among the elite of the entertainment industry's creative leaders."

Gary Sanchez Productions Television has produced such feature films as "Step Brothers" (with Apatow Productions), "The Other Guys," "The Virginity Hit," and the upcoming "Casa de mi Padre," "Hansel and Gretel: Witch Doctors" and "Tim and Eric's Billion Dollar Movie."

Owen Burke runs the Television Division of Gary Sanchez Productions Television.

Ferrell began his career on NBC's "Saturday Night Live," where he became one of the series' most popular players and created many classic characters. He later starred in such hit films as "Old School," "Elf," "Anchorman: The Legend of Ron Burgundy," "Talladega Nights: The Ballad of Ricky Bobby," "Blades of Glory," "Semi-Pro" and "The Other Guys" (in which Ferrell and McKay were executive producers). Ferrell also voiced the title character in "Megamind." He also recently appeared in a multiple-story arc on NBC's "The Office" and is executive producer of HBO's "Eastbound and Down."

In addition to his producing duties, McKay directed and wrote "Anchorman: The Legend of Ron Burgundy," "Talledega Nights," "Step Brothers" and "The Other Guys."

Ferrell and Gary Sanchez Productions Television are represented by CAA; McKay is represented by WME.