In a nutshell: The multi-year deal between South Park Digital Studios and HBO Max is reportedly valued at between $500 million to $550 million and includes access to 23 existing seasons and three new seasons. New episodes will find their way to HBO Max just 24 hours after their Comedy Central debut, we’re told.

HBO Max will be the new home of Comedy Central’s South Park starting in June 2020. The WarnerMedia-based streaming provider emerged as the winner following a fierce bidding war that Netflix pulled out of earlier this month, a source familiar with the matter told Variety.

Hulu, which is owned by Disney, is the current streaming home of South Park.

Netflix reportedly pulled out of contention in part because it wanted global, not just domestic, streaming rights.

In announcing the deal, HBO Max Chief Content Officer Kevin Reilly said South Park is unequivocally among the best – setting the satirical gold standard with a consistent finger on the comedy pulse. “Audiences have connected with Stan, Kyle, Cartman, and Kenny – either alive or dead – for over 20 years, and we look forward to connecting these characters to new audiences on HBO Max,” Reilly added.

South Park debuted in mid-1997 with a unique and risqué sense of humor that arguably hadn’t been seen in an animated series since Beavis and Butt-Head. The show has had its ups and downs over the years but has maintained its position as one of Comedy Central’s highest rated programs throughout.

HBO Max is expected to launch in May 2020 as yet another streaming platform for your consideration.