South Park creators to launch own production studio

PanARMENIAN.Net - South Park creators Trey Parker and Matt Stone have formed their own production studio, Important Studios, that will allow them to pursue film, TV and theater projects, including a possible movie version of “The Book of Mormon,” The Hollywood Reporter said citing New York Times.

Set to be announced Monday, Important Studios has an estimated value of $300 million based on revenue from Comedy Central hit series South Park, which is currently in its 16th season, and Broadway hit show The Book of Mormon.

“Having worked with several different studios over the years, we came to realize that our favorite people in the world are ourselves,” the Times quoted Parker and Stone as quipping.

Thanks to their talent agency William Morris Endeavor Entertainment and its boss Ari Emanuel, Parker and Trey also got a $60 million investment from boutique investment bank Raine Group for a stake of approximately 20 percent. It is led by Joseph Ravitch, a former Goldman Sachs banker, who has focused on entertainment and sports investments. WME is also an investor in Raine.

The deal to create a studio is the latest example of creatives looking to make their own business out of their creative ideas and relationships with fans. The Times cited the 2006 deal that helped American Idol host Ryan Seacrest launch Ryan Seacrest Productions.