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Investing.com -- Paramount Global has extended its partnership with "South Park" creators Trey Parker and Matt Stone for another five years, the company announced Wednesday.
The new agreement will see Paramount pay South Park Digital Studios, which is co-owned by the media giant and Park County, more than $1.25 billion, making it one of the richest deals in television history, according to a Tuesday LA Times report.
The deal comes just after the season 27 premiere of the long-running animated series on Comedy Central. Under the terms, Paramount will air 50 new episodes across five seasons, with episodes first appearing on Comedy Central before becoming available on Paramount+ the following day.
All 26 previous seasons of the show will also be accessible on Paramount+, which has regained international streaming rights following a period of contractual disputes.
The agreement concludes lengthy negotiations between Paramount and the show’s creators, who had previously sued incoming Paramount President Jeff Shell, accusing him of interfering with rival negotiations involving Warner Bros Discovery (NASDAQ:WBD) and Netflix (NASDAQ:NFLX).
The talks faced additional complications when Skydance leadership, which is in the process of acquiring Paramount, reportedly objected to earlier proposed terms valued at $3 billion over ten years.
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