‘South Park’ creators in talks with Carlyle for private loan
THE creators of South Park are in discussions with Carlyle Group for a private loan totalling around US$800 million that would be used to refinance an existing credit facility and fund a cash payout, according to sources with knowledge of the matter.
The loan to Park County, a media company created by Trey Parker and Matt Stone to manage their various assets, would be backed by the intellectual property from the hit TV show, as well as related properties including the Casa Bonita restaurant and Broadway musical The Book of Mormon, the sources said. The deal is not final and details may change, they added, asking not to be named discussing a private transaction.
The loan, to be made via Carlyle’s credit arm, would refinance an existing US$600 million debt facility provided by HPS Investment Partners in 2021, the sources said. Parker and Stone signed a deal with ViacomCBS the same year paying more than US$900 million over six years, one of the richest in TV history. The HPS loan appraised their library at close to US$1 billion at the time.
Representatives for Park County, Carlyle and HPS declined to comment.
The move marks Carlyle’s latest foray into the content and entertainment space. The firm provided a US$175 million asset-backed credit facility to independent entertainment company New Regency earlier this year. A Carlyle-backed venture also recently acquired the rights to singer Katy Perry’s song catalogue, after a similar deal with country star Keith Urban late last year.
In 2021, Parker and Stone said they were going to use the money from the HPS loan to invest in a wide range of creative endeavours, including a documentary series, a cannabis company and a 3D video game that is set in the world of South Park. BLOOMBERG
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