Ryan Murphy Heads to Netflix in Deal Said to Be Worth Up to $300 Million

[yallerdawg]

Netflix. Streaming. The old guard IS falling.

Source: CNBC, by John Koblin

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On Tuesday night, Netflix announced that it had poached the hit-making producer Ryan Murphy from 21st Century Fox.

The five-year deal is worth as much as $300 million, according to two people with knowledge of the deal, who spoke on the condition of anonymity to discuss private negotiations. That would be one of the biggest deals ever made for a television producer.

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Mr. Murphy’s contract with Fox expires in the summer, and he will make the move to Netflix in July.

The prolific producer behind “Glee,” “Nip/Tuck” and the anthology series “American Crime Story” and “American Horror Story,” Mr. Murphy would have been a key piece in the expanded Disney empire, and Fox executives made several attempts to keep him in the corporate family. Amazon also courted him seriously, which played a role in driving up the price for the 52-year-old writer, director and producer from Indianapolis.

“The history of this moment is not lost on me,” Mr. Murphy said in a statement. “I am a gay kid from Indiana who moved to Hollywood in 1989 with $55 in 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.”

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Read it all at: https://www.cnbc.com/2018/02/14/new-york-times-digital-ryan-murphy-heads-to-netflix-in-deal-said-to-be-worth-up-to-300-million.html