Sources say Dick Wolf's overall deal plus last month's library deal with NBCU's Peacock could have a combined value of close to $1 billion
The procedural king has signed what sources describe as a "monstrous" new five-year overall deal that will see his Wolf Entertainment continue to create and develop new projects for the NBCUniversal-owned studio. Included in the pact are three-season renewals for all of Wolf's NBC dramas:The new pact also includes multiple series commitments for future endeavors from Wolf and his company.
, would fall outside of this new pact. The additional series commitments, sources say, were the cornerstone of Wolf's new overall deal. The mega-producer is said to have not given up any of his ownership points on any of his shows while also receiving a nine-figure upfront payday that alone would dwarf most first-look pacts.
Wolf had been expected to renew his decades-long overall deal with Universal TV. The mega-producer values loyalty and consistency, with negotiations having been underway for some time ahead of the June expiration of his current agreement. In the era of nine-figure overall deals for the likes of Ryan Murphy and Greg Berlanti , Wolf's is in the high end of such pacts.
Sources say negotiations for the expansive deal began around the holidays last year and continued on with upper-level executives within the NBCU fold, including CEO Jeff Shell and Universal TV president Pearlena Igbokwe. Wolf never considered leaving the company he has called home for nearly four decades. That this new deal is for five years — rather than the previous three-year agreements — illustrates the company's commitment to keeping Wolf in the family for his entire career.
"I’m gratified and excited that Universal will remain our home for five more years,” said Wolf. “This new term deal complements our recently concluded agreement to make Peacock one of the primary destinations for both the brands, as well as our extraordinary three-year NBC broadcast pickups on all four current series.
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