Last week, Netflix revealed startling news — Seinfeld, which had been streaming at rival platform Hulu for years, would be moving to its queue in 2021. Many observers recognized that the streamer’s willingness to fork over a reported $500 million for the famous show-about-nothing’s digital rights meant that the company was serious about trying to cover for the impending loss of Friends and The Office. Yet Seinfeld may not have the same cultural capital as these two shows today. At least, not when it comes to streaming.
When it comes to syndication on cable television, though, Sony knows that Seinfeld still possesses a great deal of value. Which is why, per The Hollywood Reporter, the company was able to secure yet another lucrative deal for the series. On Saturday, the company closed a syndication deal that will see the Seinfeld library leave WarnerMedia’s TBS (and other channels) and get settled over at Viacom, which owns the likes of Comedy Central, Paramount Network, and other stations. And much like the Netflix streaming deal, Seinfeld‘s new syndication deal will see this move happen in 2021.
“Seinfeld airing on Comedy Central and the Viacom networks brings together the greatest comedy of all time, with the best brands in cable,” Sony Pictures Television’s John Weiser said in a statement. “This was a tremendous team effort and we are delighted to be working with the first-class executives at Viacom who are experts in programming and promotion. For a show about nothing, this is really something!”
Precisely how much Viacom is paying for Seinfeld‘s syndication rights is unknown. What is known, however, is the fact that, despite losing this particular show, WarnerMedia did nab the streaming rights to The Big Bang Theory for an astronomical price recently, so it’s not like they’ll be hurting from this.
(Via The Hollywood Reporter)
