‘Glee,’ ‘American Horror Story’ producer Ryan Murphy nears a 5-year deal with Netflix worth up to $300 million


Ryan Murphy

Famed “Glee” and “American Horror Story” producer Ryan Murphy is said to be pulling up stakes from 21st Century Fox and going to Netflix in a five-year deal worth as much as $300 million, The New York Times reported on Tuesday night.
If finalized, the agreement would be the most lucrative deal for a producer. “Scandal” and “Grey’s Anatomy” creator Shonda Rimes inked a $100 million deal with Netflix in August.
Murphy’s tie-up with Netflix comes as his contract with 21st Century Fox nears its end. His move would be a potentially significant loss for Fox, which announced in December that it would sell a number of its television production assets to Disney for $52.4 billion.

Ryan Murphy, the producer behind the hit TV shows “Glee,” “American Horror Story,” and “Nip/Tuck,” is said to be in talks to land at Netflix in a five-year deal worth as much as $300 million, The New York Times reported on Tuesday.

The deal represents the largest-ever for a television producer according to the The Times, and follows a $100 million agreement the streaming service reached with “Scandal” and “Grey’s Anatomy” creator Shonda Rimes in August.

The Murphy-Netflix arrangement is materializing as the producer’s current relationship with 21st Century Fox nears its end, and two months after Disney agreed to buy some of Fox’s television production assets for $52.4 billion in December.

In a statement to The Times, Murphy said, “The history of this moment is not lost on me. I am a gay kid from Indiana who moved to Hollywood in 1989 with $55 of savings in my pocket, so the fact that my dreams have crystallized and come true in such a major way is emotional and overwhelming to me.”

Bringing Murphy to Netflix also gives the company a potential edge over its streaming rivals, Hulu and …read more

Source:: Business Insider

      

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