News Corp.'s (NYSE: NWS) Fox network recently settled a snag with the talent behind The Simpsons. According to The Hollywood Reporter, fresh deals were struck that will keep the show on for a 20th season. That's pretty darn long to be on television, and it's a testament to the iconic quality that the animated series possesses.

Negotiations reportedly went on for months. In fact, next season will only see 20 episodes instead of 22 (they better still do a Halloween episode!). Some of the talent will be receiving $400,000 per show, representing a 33% raise (the cast actually wanted more than that). The Reporter article did not say who was getting what. I have to ask the following question: considering how long the show has been on, and considering that media companies are trying to discourage rampant increases in above-the-line costs (at least, that's what they should be doing, as far as I'm concerned), should News Corp. execs have demanded that Fox just end the negotiations and refuse to give in to a 33% raise?

I've got to be honest, a big part of me says "yes." However, there is incentive to keep The Simpsons on the air. Last summer, a movie version of the long-running show made a successful leap to the silver screen. The film grossed over $180 million at domestic theaters, and its worldwide total stands at more than $525 million, according to Boxofficemojo.

It would stand to reason that having the series remain active can fuel even more synergies between a Simpsons film franchise and a TV/merchandising phenomenon. Plus, it is something that differentiates Fox from the other networks. After all, you can't find Homer and Bart on Disney's (NYSE: DIS) ABC, CBS (NYSE: CBS), or General Electric's (NYSE: GE) NBC.

Yet, on the other hand, does Fox really need the series to be on the air to propel a hit string of cinematic sequels to the first Simpsons big-screen adventure? Consider that 20 seasons is not only a long time to be on the air, but it's a time period that certainly has given rise to a lot of changes in both taste and relevance. Let's be honest, Seth MacFarlane and his Family Guy series makes The Simpsons look totally grown up and completely without edge. I like The Simpsons too, but it's the truth, I'm sorry, Stewie and the gang simply have more of a buzz these days. And, adding to the mix the fact that MacFarlane recently scribed a new, lucrative pact (subscription required) with Fox only makes raises for the Simpsons cast seem like a weird investment. Why not just axe the show and let MacFarlane do the heavy lifting in terms of supplying all of Fox's animation needs? Heck, they're paying him enough.

I'm not sure how much longer Fox will keep The Simpsons on the air, but the company should do some serious thinking. Shareholders might be better served by moving on from an aging show, even though it is well-loved and well-written, and just making investments in movie sequels. At some point, things become too expensive to justify.

I own shares of Disney and General Electric; positions can change at any time.