This would mark the first major move for Cindy Holland, Paramount's Chair of Direct-to-Consumer, who, as Head of Originals at Netflix, championed Stranger Things. In fact, the Duffers would be reunited with two executives who were key to Netflix betting on the them and their 1980s supernatural drama.

The Duffer Brothers, creators of Netflix's "Stranger Things," are in talks to exclusively create film and television for Paramount.