There is no denying that Greg Berlanti is a very very very busy man. Besides overseeing all of the DC superhero shows & Riverdale on The CW, he has a total of 14 different shows that he executive produces/showruns/writes with Warner Bros. at the moment. Under his guidance, alongside others, the CW grew it’s superhero output from just Arrow in 2012 to now five different shows in various stages of years on the air.
Big name producers have become in high demand as of late with Netflix giving huge deals to the likes of Shonda Rhimes & Ryan Murphy and other streaming platforms snatching up others including The Walking Dead guru Robert Kirkman. That’s why Warner Bros. is preparing to open their checkbook to keep Berlanti.
According to Variety, Berlanti and Warner Bros. have reached an agreement on a six-year mega-deal that will keep the producer working on projects for them all the way through 2024, valued at over $300 million with the chance to reach up to $400 million.
This deal with Warner Bros. TV Group is structured somewhat like an acquisition with the studio taking interest in Greg Berlanti Productions and having the effect of buying out Berlanti’s profit participation points for the 14 existing shows that his company is producing. The structure of the acquisition leaves significant tax benefits for Berlanti and gives Berlanti Productions iron-clad cash guarantees for every show that they deliver.
Since none of Berlanti’s projects have reached the golden level of syndication, a promise that studios can continue to make money on a show even after it stops airing new episodes, WB’s move to buy up his participation points quickly gives him a windfall of money right away rather than waiting to see if these shows, many of which are very serialized and might not work well in syndication in the long run, will make it to syndication.
Despite WB’s concerns about losing out on Berlanti, reportedly there were not that many actual chances of losing him. It doesn’t seem that Berlanti and company were every planning to leave as they reportedly did not ever make the rounds to visit other studios or platforms before signing the renewal contract with Warner Bros. TV. Sources claim that Berlanti had no desire to leave the studio that has been a home for a great many years. There were still two years left on the current contract which have now been added to the new contract.
While this deal locks him down in one sense, through television, they made sure to leave some freedom as it allows him to continue to do work in films at other studios. Berlanti recently got some notice on the big screen with his coming of age low budget big success film Love, Simon.