Taylor Sheridan, a prolific television producer with a sprawling network of hits like “Yellowstone” and “Landman,” will leave Paramount and head to NBCUniversal when his contract expires, according to two people with knowledge of the decision.
Poaching the hitmaker is a boon for NBCUniversal and its streaming service, Peacock, and a blow to Paramount. But there is a big catch: Mr. Sheridan’s Paramount deal for television projects does not expire until the end of 2028. The NBCUniversal deal will go into effect in early 2029, the people said.
The news of Mr. Sheridan’s decision was reported earlier by Puck.
A little less than a decade ago, when the Peak TV era was thriving, media and tech companies competed to make megadeals for producers like Shonda Rhimes, Ryan Murphy and J.J. Abrams. That market significantly narrowed after the era ended and a contraction took place in Hollywood.
But Mr. Sheridan’s portfolio has expanded rapidly in just seven years. Not long after “Yellowstone” premiered on cable in 2018 and became a hit, it opened the floodgates to a wide range of popular — and expensive — shows for Paramount and Mr. Sheridan’s production company, 101 Studios. They included “Tulsa King,” “Mayor of Kingstown,” “Lioness” and “1923.”
The financial terms of Mr. Sheridan’s deal with NBCUniversal were not immediately clear. But he will be able to make movies for the company as well as television shows, and he may be able to start on those sooner than he can start on TV projects, one of the people with knowledge of the deal said.
NBCUniversal’s deal was orchestrated by Donna Langley, the company’s entertainment chairman. Ms. Langley, the longtime leader of the company’s film division, took full control of the company’s television properties last year. Ms. Langley is known for having close relationships with directors like Christopher Nolan and Steven Spielberg.
The deal could telegraph to Hollywood that NBCUniversal is very much still in the entertainment business. After the company made an enormous deal with the National Basketball Association — it is also on the brink of signing a new contract with Major League Baseball — some in Hollywood wondered just how many TV projects it could afford.
For Paramount and its new chief executive, David Ellison, Mr. Sheridan’s departure will sting, especially since the company has been on a spending spree in its opening three months under his leadership. The company is also preparing to lay off many employees in the coming days. But any series that Mr. Sheridan creates or produces over the next three years will be controlled by Paramount, and the company will own any future episodes produced for ongoing series as well.
Mr. Sheridan worked closely with Chris McCarthy, the former Paramount co-chief executive who left the company in August after Mr. Ellison took over.
John Koblin covers the television industry for The Times.
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