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Kenney had a five-year buyout contract with the Lampoon's publisher, 21st Century Communications. Kenney, Beard, and Hoffman took advantage of this, dividing a sum of $7,000,000 among them. Kenney remained on staff until 1977, when he left the magazine to co-write the screenplay to National Lampoon's Animal House, along with Chris Miller and Harold Ramis.

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