South Park extends global deal with Paramount+ for 50 new episodes

NEW YORK - Paramount Global (NASDAQ:PARA, PARAA), a prominent player in the media industry with annual revenue of $28.7 billion, announced Wednesday a five-year renewal agreement with "South Park" creators Trey Parker and Matt Stone that includes 50 new episodes and rights to the show’s entire library. According to InvestingPro data, the company’s stock has shown strong momentum, delivering a 26.4% return year-to-date.

The deal makes Paramount+ the exclusive U.S. streaming home for all "South Park" content, including the complete 26-season library and new episodes. New episodes will debut on Comedy Central before appearing on Paramount+ the following day.

"South Park," which first aired on August 13, 1997, remains one of television’s longest-running animated series. The Emmy and Peabody Award-winning show is produced by Parker, Stone, Anne Garefino and Frank C. Agnone II as executive producers.

Chris McCarthy, Co-CEO of Paramount Global and President of Showtime/MTV Entertainment, described Parker and Stone as "singular, creative forces" behind one of "the most beloved and enduring series ever."

Matt Stone expressed gratitude for the extension, thanking McCarthy and Keyes Hill-Edgar for "years of great partnership." Parker added that they were "deeply honored by the trust placed in us."

The agreement represents a continuation of the joint venture between Paramount Global and Park County, the entertainment company founded by Parker and Stone. South Park Digital Studios manages streaming, social and interactive content for the franchise.

This information is based on a press release statement from Paramount Global.

In other recent news, Paramount Global has been in the spotlight due to several significant developments. The company recently settled a lawsuit with former U.S. President Donald Trump for $16 million, related to a "60 Minutes" interview with Kamala Harris. This settlement has drawn criticism from CBS News staff and press freedom advocates, who express concerns about its potential impact on journalistic practices. Additionally, Paramount has secured a major streaming deal valued at $1.5 billion for the global rights to "South Park," enhancing its digital platform, Paramount+. The five-year agreement with creators Trey Parker and Matt Stone will bring the popular series to Paramount+.

In merger news, Paramount is seeking regulatory approval for an $8.4 billion merger with Skydance Media, which could see former CBS News head David Rhodes returning if the deal closes. However, Loop Capital has reiterated a Sell rating on Paramount stock, citing skepticism about the merger’s financial projections. The firm considers the projected OIBDA figures for 2026 as overly optimistic. These recent developments highlight Paramount’s strategic moves in both legal and entertainment sectors.

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