NBC renews Will & Grace

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NBC has renewed Thursday-night hit Will & Grace for three more
seasons in a deal valued at more than $300 million, Variety reports.

Sister company NBC Studios will receive a license fee of about $4 million per
episode to keep Will & Grace on-air through its seventh season, which
would end in May 2005.

The 'Peacock Network' currently pays nearly $1 million per episode for the

'Will & Grace has been the biggest comedy hit of the past four
years,' NBC Entertainment president Jeff Zucker said in a prepared

'And in this year, when it's faced intense competition, it remains the
second-highest-rated comedy (in demographics),' he added. 'The show is just
hitting its stride.'