Magnum PI season 5 revival: What’s the state of NBC negotiation?

For everyone out there who is eager to see Magnum PI season 5 happen at NBC, there is hope — but there is also a few hurdles that need to be jumped through.

As some of you may be aware of at this point, a report from Deadline emerged last week that made it clear that NBC was the top possibility for a season 5 revival of the show, with USA potentially playing a role in here as well. That site claimed the negotiations were in “advanced stages,” which tends to mean that things are pretty serious and it’s not just about multiple parties feeling each other out.

So what is the biggest hang-up? Right now, it’s the budget — and yes, we know it’s incredibly boring to talk about a creative pursuit in terms of dollars and cents. It just still matters the most for the corporations involved. It takes a good bit of cash to put on a show like this, especially when you consider the scope of some of the action sequences. How much does the show cost versus how much can it bring in? This is the equation that parent company NBCUniversal is likely looking at. They already partially own Magnum PI through Universal TV and that helps, but there are also some components that factor into their decision beyond just new episodes.

Repeats – If a plan is laid out to run past episodes on USA, that could supplement a little bit of the cash to fund the show. Yet, doing this would require both Universal TV and CBS Studios (another co-producer) signing off. We of course wonder if CBS Studios would sell of their stake in the show entirely, but we’re not business-minded enough to dive further into that.

Streaming Rights – The same can be said here. Peacock would be the most sensible home for past seasons since it is under the NBCUniversal banner. However, the most-recent season is currently on Paramount+. This is probably the part of the process that isn’t getting enough attention, and it may be the most difficult negotiation of all. Streaming makes a TON of money these days, and we can imagine a situation where CBS Studios and Universal are pitching two very different things.

Will something get worked out?

Since we’re at the point now that there are discussions about budgets, we’re hopeful — especially since the public is acutely aware of what is going on right now. If for whatever reason it doesn’t work out, just know that everyone behind the scenes is seemingly doing their best. Talks don’t get to this stage unless there is a lot of effort.

How are you feeling about a possible Magnum PI season 5 revival?

Be sure to let us know in the comments, and come back around for some further updates. (Photo: CBS.)