Viacom Extends 'The Office' and 'Parks and Recreation' Rights
November 15 2019 - 7:53PM
Dow Jones News
By Maria Armental
Viacom Inc. will continue to show re-runs of "The Office"
through 2025 and "Parks and Recreation" through 2024, the company
said Friday.
Under the terms of the deal, with Comcast Corp.' NBCUniversal,
Viacom's Comedy Central would continue to air the 125 episodes of
the political satire television sitcom "Parks and Recreation."
Comedy Central would also have exclusive cable rights through 2021
to "The Office," an adaptation of an original BBC series by the
same name.
Financial terms weren't disclosed.
In September, Viacom signed exclusive cable rights for the 180
episodes of "Seinfeld" beginning in October 2021.
The deals come as older media companies like Viacom, whose
business model centers around cable television, face fiercer
competition from streaming giants like Netflix Inc., which holds
exclusive streaming rights to "The Office."
Viacom's then-booming cable-networks division was carved out
from CBS Corp.'s more mature TV business. (((
https://www.wsj.com/articles/SB115353261435314387?mod=article_inline&mod=article_inline)))
But as the media world spun again, the companies decided that
their future was better together. The merger is expected to close
by the end of the year.
"We can compete with the best of them-not only do we create a
quantity of content, we actually create content people actually
want to watch," said Shari Redstone, president of National
Amusements Inc., the holding company that controls Viacom and CBS,
speaking at the WSJ Tech Live conference in Laguna Beach,
Calif.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
November 15, 2019 19:38 ET (00:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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