'South Park' creators reach $1.5 billion streaming deal with Paramount
Paramount agreed to buy the global streaming rights for "South Park" to bring the show to the company's digital service, Paramount+, for the first time in the U.S., according to three people close to the negotiations who were not authorized to comment.
The deal with Trey Parker and Matt Stone, through their Park County production company, values the global streaming rights at $300 million a year, according to two of the people close to the agreement, who could not discuss the matter publicly because the deal is not final.
The five-year deal means the show will fetch $1.5 billion for streaming alone.
The sum preserves the show's status as one of the world's most valuable TV franchises.
Read more: 'South Park' dispute escalates as creators accuse Paramount's buyers of meddling
Both sides were motivated to reach a deal before Wednesday, when Paramount's Comedy Central channel kicks off the 27th season of "South Park."
Paramount also wanted to avoid any public relations fiascoes when Stone and Parker take the stage Thursday at fan-fest Comic-Con in San Diego.
Separately, the two sides have been negotiating an overall deal for Parker and Stone, to renew their previous $900 million pact that kept the show on Comedy Central with new episodes through 2027. Parker and Stone's team are seeking a higher valuation in order to produce new seasons.
This is a developing story.
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This story originally appeared in Los Angeles Times.
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