US studio in talks with the Duffer brothers over an overall deal that could see them leave Netflix
Paramount is in talks with Stranger Things creators the Duffer brothers over a potential overall deal, according to US reports.
The move would be the latest in a series of developments during the first week of David Ellison’s tenure at Paramount, prompted by the $8bn merger with his former company Skydance.
Details of the proposed pact with Matt and Ross Duffer are unclear but it would likely cover streaming and movies, while setting a marker that suggests Paramount means business.
It would also reunite the Duffer brothers - who are currently on a deal at Stranger Things streamer Netflix - with Cindy Holland and Matt Thunnell.
Holland, who was overseeing all English-language series for Netflix when Stranger Things was greenlit, is now leading the streaming arm of Paramount.
Thunnell, meanwhile, was vice-president of original series at Netflix, leaving in 2022 to join Skydance. He is now president of Paramount TV Studios.
Paramount declined to comment on the reports, which come ahead of Stranger Things’ fifth and final season on Netflix. The streamer struck a pact with the Duffers’ prodco Upside Down Pictures in 2022, with the companies working on upcoming shows including The Boroughs.
Reports of a potential deal with Paramount round out a noteworthy first week for Ellison, who saw shares rocket more than 36% earlier this week.
The reasons behind that surge were not immediately clear, but market watchers were broadly impressed by Paramount’s new chief exec during a press session earlier in the week, in which he talked up spending on content alongside Holland and other C-suite execs.
The company also unveiled a $7.7bn deal for rights deal for the UFC fighting competition on Monday.
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