Good news for fans of the hit TV show "Mad Men." Netflix hammered out an agreement to stream reruns of "Mad Men" after the show's initial airing on cable network AMC. As part of the deal, Netflix will fork over between $750,000 and $900,000 per episode to Lionsgate, the show's producer.
According to a Los Angeles Times report, this latest deal is a first of its kind and means that reruns for the popular show won't air on broadcast or cable networks, as is usually the case. Never before has Netflix bought syndication rights to a currently airing program.
Some studios have been playing hardball with Netflix as of late, pulling shows from the streaming service once existing contracts expire. The Los Angeles Times says that serialized dramas like "Mad Men" typically don't perform well in reruns, so in this scenario, Netflix may have benefited from Lionsgate's inability to sell the show to a traditional network.
Netflix will stream the first four 13-episode seasons of "Mad Men" starting July 27. After that, future episodes will not be made available until seasons are complete.