Netflix (NASDAQ:NFLX) has signed Hollywood television producer Ryan Murphy to a multi-year deal.
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Murphy, an Emmy, Golden Globe and Peabody Award-winning producer, director and writer, and his production company inked a five-year deal worth as much as $300 million, according to a New York Times report on Tuesday.
Netflix declined to comment on the specifics of the deal.
“Ryan Murphy’s series have influenced the global cultural zeitgeist, reinvented genres and changed the course of television history,” Netflix’s Chief Content Officer Ted Sarandos, said in a statement. “His unfaltering dedication to excellence and to give voice to the underrepresented, to showcase a unique perspective or just to shock the hell out of us, permeates his genre-shattering work.”
Known for his work on “Nip/Tuck,” “Glee,” “American Horror Story” and “American Crime Story,” Murphy will produce original series, including “Ratched” and “The Politician,” as well as films exclusively for the streaming entertainment company. The hit-maker’s contract with 21st Century Fox (NASDAQ:FOXA), the parent company of FOX Business, expires in the summer, and he will start at Netflix in July.
"The history of this moment is not lost on me," Murphy said in a statement. "I am a gay kid from Indiana who moved to Hollywood in 1989 with $55 dollars in savings in my pocket, so the fact that my dreams have crystallized and come true in such a major way is emotional and overwhelming to me.”
Netflix stock has climbed nearly 30% this year.