At long last, Hulu and Disney finally inked a deal giving Hulu permission to stream full-length episodes of such programs like "Lost," "Grey's Anatomy," "Desperate Housewives," and more. Under terms of the new deal, Disney will join the video sharing site as a partner and according to un-named sources, take a 27 percent stake in the venture, DigitalDaily reports.

"From our landmark iTunes deal to our pioneering decision to stream ad supported shows on our ABC.com player, Disney has sought to meet the constantly evolving viewing habits of our consumers, and today’s Hulu announcement is the next important step in that ongoing journey," Disney CEO Bob Iger bloviated. "Disney and Hulu share a focus on delivering the highest-quality entertainment experience and we look forward to working with Hulu to build value for our consumers, our brands and our shareholders."

The deal should inject a ton of new content into Hulu, which according to a joint press release, will include full-length episodes of primetime programs, ABC Family series, ABC Daytime and SOAPnet shows, classic series from ABC's library (like "Who Wants to be a Millionaire", "Dancing with the Stars"), Disney Channel hits (like "Wizards of Waverly Place" and "Phineas and Ferb"), yet-to-be-determined library titles from The Walt Disney Studios, and short-form content.