‘Price Is Right,’ ‘Let’s Make a Deal’ Executive Producer Mike Richards to Exit for Overall Deal at Sony (EXCLUSIVE)

By Joe Otterson

LOS ANGELES (Variety.com) – Mike Richards, the longtime executive producer of both “The Price Is Right” and “Let’s Make a Deal,” is stepping down after signing a multi-year overall deal with Sony Pictures Television, Variety has learned exclusively.

Richards will begin working with Sony in September. Under the deal, he will develop and produce game shows for network, cable, and streaming platforms. He has been with both “” and “Let’s Make a Deal” for over 10 years each.

“I’m incredibly proud of what we’ve done to restore and transform ‘The Price Is Right’ and ‘Let’s Make a Deal’ over the last decade,” said Richards. “My focus has always been to create content that makes the world a better and happier place and I look forward to working with Mike Hopkins and the entire Sony team to create new shows that entertain and inspire.”

Richards has produced over 4,000 hours of game show programming during his career. He is also known for his work in front of the camera, having hosted five series including “Beauty and the Geek,” Game Show Network’s 2016–17 version of “Divided,” and the 2012 revival of “The Pyramid.” He joins an unscripted and game show roster at Sony that currently includes “Shark Tank’s” Clay Newbill and Yun Lingner, “The Dr. Oz Show’s” Amy Chiaro, “The $100,000 Pyramid’s” Vin Rubino, and “Jeopardy!” and “Wheel of Fortune” executive producer and 14-time Daytime Emmy winner Harry Friedman.

“Bringing on an extraordinarily talented and versatile producer like Mike, who has been at the helm of two of the biggest franchises in daytime TV, reinforces our strong commitment to growing our game show business,” said Hopkins, chairman of . “Mike joining SPT fills out a veritable ‘Dream Team’ of outstanding producers, including Harry Friedman, who produces ‘Jeopardy!’ and ‘Wheel of Fortune,’ two of the longest running and most successful game shows in television. With these flagship shows, combined with international ratings juggernauts ‘Shark Tank’ and ‘Who Wants To Be A Millionaire’ and our successful Game Show Network, SPT’s slate is unparalleled.”