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The prolific producer behind American Horror Story and American Crime Story will exit his longtime home at 20th Century Fox Television in favor of a mega-deal at Netflix that is said to be for five years and worth $300 million, according to The New York Times.
Netflix made the announcement late Tuesday that Murphy and his Ryan Murphy Productions banner will produce new series and films for the streaming giant effective July 1, when his deal with 20th Television expires.
The Netflix deal arrives after Murphy said he was taking a “wait-and-see” approach to determining his future with 20th Television in the wake of the studio’s pending sale to Disney. (The $52 billion deal is awaiting regulatory approval.) Murphy is said to have had several deals on the table, including from all three streaming services as well as a multiple-year offer from 20th Television to stay in what sources estimate was a $35 million-$40 million annual pact. Given the television studio’s uncertain future amid a pending Disney acquisition, Murphy opted for the Rhimes-like Netflix deal. Murphy’s departure from 20th Television comes as a blow to Disney, who lost Rhimes to the streaming giant last year in a deal worth what sources say was $100 million.
Murphy will continue to serve as an exec producer on FX’s American Horror Story, American Crime Story, Feud, Pose and Fox’s 911, the latter of which has already been renewed for next season.
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