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Netflix poaches top Fox TV creator Murphy in five-year megadeal

Published 02/14/2018, 07:46 PM
© Reuters.  Netflix poaches top Fox TV creator Murphy in five-year megadeal
  • Seemingly concerned about what's next for media assets at Fox (FOX, FOXA) that are headed into the umbrella of Disney (NYSE:DIS), Ryan Murphy -- TV's most prolific producer -- has signed a deal said to be worth a hefty $250M-$300M over five years with Netflix (NASDAQ:NFLX).
  • Murphy has been responsible for such Fox/FX hits as Nip/Tuck, Glee, American Horror Story and American Crime Story over the past 15 years.
  • The total value of the deal depends on viewership targets.
  • The change is unquestionably a blow for Fox, which has four Murphy shows on FX right now (and American Horror Story is FX's top-rated series).
  • It's Netflix's second big deal with one of TV's biggest hitmakers: Last August, it poached Shonda Rhimes from ABC with a five-year deal for at least $100M.
  • Netflix shares gained 3% today, while Fox was mostly flat and Disney closed up 0.5%.
  • Now read: Netflix Is Sick


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