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thumb|right|U.S. version of The Price Is Right logo, used from 1973–1976. The Price Is Right is a television game show franchise originally produced by Mark Goodson and Bill Todman, and created by Bob Stewart, and is currently produced and owned by FremantleMedia. The franchise centers on television game shows, but also includes merchandise such as video games, printed media and board games. The franchise began in 1956 as a television game show hosted by Bill Cullen and was revamped in 1972. This version was originally hosted by Bob Barker. Since 2007, Drew Carey hosts the program.

In the show, contestants compete to win cash and prizes by bidding on the pricing of merchandise. The program has been critically successful and remains a stalwart in the television ratings. It also managed to break away from the quiz show format that has been used in other game shows. Since the current version of The Price is Right premiered, it has also been adapted in several international formats around the world, most notably in the United Kingdom, Australia and Mexico.

2007- Present
Drew Carey

1994 - 1995
Doug Davidson

1985 - 1986
Tom Kennedy

1972-1977
Bob Barker

1972–1977
Dennis James

The updated version returned to the air in 1972 as The New Price Is Right; the "new" addendum was later removed. It is still in production in the United States. From September 4, 1972, to June 15, 2007, the show was hosted by Bob Barker. Barker's episodes continued to air in reruns until October 15, 2007, when Drew Carey debuted as the new host.

1956-1965
Bill Cullen

The original version of The Price Is Right was first transmitted on the NBC, and later ABC, television networks in the United States from 1956 to 1965. Hosted by Bill Cullen, it involved four contestants bidding on expensive products, doing so in the manner of auctions except that Cullen did not act out the role of auctioneer (contestants tried to bid closest to the product's actual retail price without going over that price). After a set round of bids, the contestant whose bid was closest to the correct value of the prize – and had not gone over that value – won it. At the end of each edition, the contestant who had won the most (by dollar value) was declared the winner and became the returning champion, entitled to play again in the next edition. This version of The Price Is Right ended in 1965.

Format
In this "New" version, four contestants place a single bid on an initial product, in dollars only, as the production company will round off all retail prices to the nearest dollar; the contestant who bids closest to the product's actual retail price without going over wins the item and then gets to play one of several mini-games, which are called Pricing Games in most countries, including the United States, for an additional and more substantial prize or group of prizes. One contestant, through various elimination formats, could find themselves winning a large showcase of prizes at the show's conclusion by predicting the total price of a "showcase."

Originally thirty minutes in length, the show was expanded to its current hour-long format on November 3, 1975. At this time, a new feature, the "Showcase Showdown," was introduced and remains in use. The three contestants who make their way on stage in each half of the show are asked to spin a large wheel, which is labeled from five cents to one dollar in five cent increments. The contestants in each of the two Showdowns who come closest to one dollar in no more than two spins that then have to take the wheel through one complete revolution, without going over, are brought back to compete for the Showcases at the end of the show.

History
The 1972 American version was hosted by Bob Barker from September 1972 to June 2007; his last new episode aired on June 15, 2007. After a season-long search for a new host, Drew Carey took the helm of the show, with production resuming in August 2007 and Carey's first episode airing on October 15. It is believed to be the second longest-running game show on television, trailing only the Spanish-language variety show Sábado Gigante; it is also the longest running five-days-a-week game show in the world. The Price Is Right is the only game show franchise to be seen nationally in either first-run network or syndication airings in the US in every decade from the 1950s onward. CBS has occasionally aired extra episodes of the show for short periods between the cancellation of one daytime program and the premiere of its successor. On occasion since 1986, special episodes have occasionally aired during prime time hours, most notably to fill in gaps between the Survivor series, and the 2007-08 Writers Guild of America strike.

Versions and runs
Versions and runs of the current format have included:
 * The Price Is Right (1972–Present): The current daytime version; hosted by Bob Barker (1972–2007) and Drew Carey (2007–Present).
 * The Price Is Right (1972–1980): A weekly syndicated series hosted by Dennis James (1972–1977) and then Bob Barker (1977–1980). It was referred to on-air as "the nighttime Price Is Right".
 * The Price Is Right (1985–1986): A daily syndicated version hosted by Tom Kennedy, also referred to on-air as "the nighttime Price Is Right".
 * The Price Is Right Special (1986): A prime time summer series on CBS hosted by Bob Barker.
 * The New Price Is Right (1994–1995): A short-lived daily syndicated nighttime version hosted by Doug Davidson.
 * The Price Is Right Salutes (2002): A series of special shows that were produced based on the current daytime version and were aired during CBS's primetime lineup. These specials saluted branches of the United States armed forces in the wake of the September 11 attacks.
 * The Price Is Right $1,000,000 Spectacular (2003–2008): Special primetime episodes featuring chances at winning $1,000,000, as well as more expensive prizes than on the daytime counterpart.

International versions
The 1972 revised format appeared on Australian television the following year and debuted in the UK in 1984; and has also been adapted around the world. A few staff members from the international versions have made appearances on the U.S. version in the audience, namely hosts (so far, only Alain Leveille from the French-Canadian version, Larry Emdur from the Australian version, and Marco Antonio Regil from the Mexican version (along with other staff members) have appeared on the U.S. show, as well as a model from the Italian version). While he didn't appear on the U.S. show itself, Carlo Boszhard from the Dutch version was greeted by Barker (and music director Stan Blits) at the start of the 200th episode of his version, Cash en Carlo.

Nations not listed
According to Fremantle's website, versions of the show have also aired in Greece and Lithuania.

Licensed merchandise
Endless Games, which in the past has produced board games based on several other game shows, including The Newlywed Game and Million Dollar Password, distributes home versions of The Price Is Right, featuring the voice of Rich Fields, including a DVD edition and a Quick Picks travel-size edition. Ubisoft also released a video game version of the show for the PC, Nintendo DS, and Wii console on September 9, 2008. An updated version of the game (The Price Is Right: 2010 Edition) was released on September 22, 2009. Both versions feature the voice of Rich Fields, who was the show's announcer at the time release.

In September 2010, Ludia released the official Facebook version of The Price Is Right game. The game had two million monthly active users only two months after the launch.

Ludia is currently developing The Price Is Right Decades, a video game featuring production elements from various decades of the show,which was released on October 18, 2011 for the Wii, PlayStation 3, and Xbox 360.