In what is being described as a new deal of its kind, Matt Stone and Trey Parker, the creators and executive producers of “South Park”, have renewed their deal with Comedy Central, and owners Viacom (NYSE: VIA) and includes some novel digital elements. The new joint venture involves millions (the NYT story says $75 million) in up-front cash and a 50-50 split of ad revenues, and the network and the two creative partners have agreed to create a hub to spread “South Park”-related material across the Net, mobile platforms, and video games. The hub, called SouthParkStudios.com, will be housed in the show’s animation studio in Culver City, CA, that is intended to be an incubator not only for new applications for characters the likes of Cartman, Kyle, Stan and Kenny, but for new comedy concepts that could one day mature into TV series of their own, the story says.

The deal gives a three-year extension of the show and its creators’ contracts through a 15th season, in the year 2011, and gives Stone and Parker sizable raises, both in their salaries and in their guaranteed advances against back-end profits from DVDs, merchandising, syndication and international sales.