Paramount has finalized a major deal to acquire the exclusive streaming rights to the entire South Park back catalog, striking a five-year agreement with creators Matt Stone and Trey Parker worth a reported $1.5 billion. The iconic animated series had previously streamed on HBO Max.
The long-anticipated agreement will bring all past episodes of South Park to Paramount+, marking a significant shift for the show’s digital home. Until now, Paramount+ had primarily featured South Park original movies, while HBO Max held the rights to the television series.
According to the Los Angeles Times, Paramount initially proposed a co-streaming arrangement with HBO Max that would have allowed both platforms to share access to the show’s archive. However, those talks collapsed over the weekend.
The timing of the deal is notable: it arrives just as the 27th season of South Park premieres Wednesday night on Comedy Central, following a delay due to internal production changes. Creators Stone and Parker are also scheduled to appear at Comic-Con on Thursday.
The staggering $1.5 billion price tag is already sparking debate, especially in light of Paramount’s recent announcement that it is canceling The Late Show and ending its partnership with host Stephen Colbert—a move the company described as “purely a financial decision.” Critics have pointed to a broader pattern of controversial spending, including a recent settlement with Donald Trump over a disputed 60 Minutes clip, which Colbert publicly described as “a big fat bribe.”
