The success of the "Harry Potter" franchise made it a matter of when, not if, a major cable company would shell out the big
bucks to obtain the commercial television rights to the franchise's movies.
According to the Wall Street Journal,
Time Warner Inc (NYSE: TWX)'s Warner Bros. studio struck
a deal with NBCUniversal and its parent company Comcast Corporation (NASDAQ: CMCSA) for the commercial television rights to all eight of the "Harry Potter"
movies.
The agreement between the two also includes the "Fantastic Beats" franchise, which was also written by J.K. Rowling, author of
the Potter franchise. In addition, NBCUniversal obtained the rights to use source material from both franchises at its Universal
theme parks and at its "Wizarding World of Harry Potter" attraction.
Related Link: How Do
Early Sales Of 'The Cursed Child' Stack Up Against The Harry Potter Series?
The Wall Street Journal noted that while the financial aspects of the deal weren't immediately disclosed, "people familiar with
the agreement" said the deal could be valued as much as $250 million.
A spokeswoman at NBCUniversal told the Wall Street Journal that the deal represents the largest acquisition in its company
history but did not clarify any dollar amount attached to the deal.
The deal will only take effect in 2018 as Walt Disney Co (NYSE: DIS) holds the rights to the "Harry Potter' franchise until June 2018. As of July 1,
2018, NBCUniversal holds the right to air the films on all of its networks, including its core-NBC broadcast network.
"When you have an iconic franchise like this, it has a lot of value," the Wall Street Journal quoted Chris McCumber, president
of NBCUniversal Cable's entertainment networks unit as saying. "You end up getting a younger audience who comes in to discover
them."
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