The show about nothing is making a couple of big moves.
On Sept. 16, Netflix, Inc. (NASDAQ: NFLX) said it will buy the global streaming rights for "Seinfeld" from Sony Pictures Television, a unit of Sony Corp (NYSE: SNE). The five-year deal begins in 2021. Days later, Viacom, Inc. (NASDAQ: 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.
How Much Is Jerry Seinfeld Worth To Netflix?
A Giant Ball Of Oil: The Economics Of Seinfeld
Photo credit: Sony Pictures Television
See more from Benzinga
- What To Know About Gage Cannabis, The Michigan Company That Just Named Bruce Linton As Executive Chairman
- UAW Declares Strike Against GM For First Time Since 2007
- Saudi Arabia's Oil Production Hit Following Drone Strikes
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.