The creators of Comedy Central's satirical cartoon, South Park, Trey Parker and Matt Stone, have reached a breakthrough deal with Paramount for the global streaming rights of the show. The five-year deal values the streaming rights at $300 million per year, totaling $1.5 billion.

The deal, which brings the show to Paramount's digital service, Paramount+, for the first time in the U.S., was reached after tense negotiations between the two parties. The agreement preserves South Park's status as one of the world's most valuable TV franchises.

Motivation to Reach a Deal

Both sides were motivated to reach a deal before the 27th season of South Park premieres on Comedy Central on Wednesday. Additionally, Paramount wanted to avoid any public relations fiascoes when Stone and Parker take the stage at fan-fest Comic-Con in San Diego on Thursday.

Separately, the two sides have been negotiating an overall deal for Parker and Stone, seeking a higher valuation to produce new seasons. Their previous $900 million pact kept the show on Comedy Central with new episodes through 2027.

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This is a developing story. Stay tuned for more updates.