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Netflix secures Ryan Murphy in $300 million deal
Zoe Poindexter
Proving it's prowess over the traditional television model once again, Netflix has struck a deal withAmerican Horror StoryandAmerican Crime Story show runner Ryan Murphy.

Late Tuesday, an announcement was made that Murphy under his banner Ryan Murphy productions will be joining the streaming service to create new series and films after the expiration of his current contract with 20th Century Fox on July 1st. The deal is set to last for five years, and is valued between $250 and $300 million.

"Ryan Murphy's series have influenced the global cultural zeitgeist, reinvented genres and changed the course of television history," Ted Sarandos, chief content officer at Netflix, said in a statement. "His unfaltering dedication to excellence and to give voice to the underrepresented, to showcase a unique perspective or just to shock the hell out of us, permeates his genre-shattering work."

This deal is potentially a blow to Disney which is currently transitioning the acquisition of Fox Studios and FX Networks. Just six months ago, ABC lostGrey's Anatomy creator Shonda Rhimes in a similar deal with Netflix as well.

"The history of this moment is not lost on me. I am awash in genuine appreciation for Ted Sarandos, Reed Hastings, and Cindy Holland at Netflix for believing in me and the future of my company, which will continue to champion women, minorities, and LGBTQ heroes and heroines," Murphy said, "I am honored and grateful to continue my partnership with my friends and peers at Fox on our existing shows."

Murphy will continue to serve as an executive producer on FX'sAmerican Horror Story, American Crime Story, Feud, Poseand Fox's911, the latter of which has already been renewed for another season.

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