The show about nothing is making a couple of big moves.
On Sept. 16, Netflix, Inc. NFLX said it will buy the global streaming rights for "Seinfeld" from Sony Pictures Television, a unit of Sony Corp SNE. The five-year deal begins in 2021. Days later, Viacom, Inc. VIAB acquired the exclusive cable syndication rights for the show, set to begin October 2021.
The iconic 1990s sitcom has run on TBS since 2002 and has been available for streaming on Hulu for several years.
Viacom’s Comedy Central, TV Land and Paramount Network channels will share rights to all 180 episodes of “Seinfeld."
The Los Angeles Times noted that while terms of the transaction weren't disclosed, "Netflix paid far more than the $500 million NBCUniversal paid for 'The Office,' and the $425 million WarnerMedia shelled out for 'Friends,' people familiar with the deal said. Both of those five-year deals were for streaming rights in the U.S. only."
Jerry Seinfeld's popular web series "Comedians in Cars Getting Coffee" moved from Sony's Crackle to Netflix in 2018.
Related Links:
How Much Is Jerry Seinfeld Worth To Netflix?
A Giant Ball Of Oil: The Economics Of Seinfeld
Photo credit: Sony Pictures Television
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
