Netflix Inc. (NASDAQ: NFLX) announced a multiyear syndication deal under which Lionsgate (NYSE: LGF) has licensed the first four seasons of its Emmy Award-winning series Mad Men to be watched instantly by Netflix members starting July 27.
Under a separate agreement, the first four seasons of Mad Men are already available to watch instantly streaming from Netflix in Canada.
Mad Men has been and continues to be a representation of TV at its best and Netflix is proud to be the syndication home for this acclaimed series, said Ted Sarandos, Chief Content Officer at Netflix. This deal secures long term instant access to an iconic show for Netflix members for years to come.
Lionsgate President and Co-Chief Operating Officer Steve Beeks said: We will announce our transactional digital plans and other elements of our syndication strategy for 'Mad Men' shortly.
The deal is worth between $75 million and $100 million, a report from the Wall Street Journal said, quoting people close to the situation.
Lionsgate announced last week that it has entered into a new three-year agreement with Mad Men creator Matthew Weiner to continue as showrunner and Mad Men will return to AMC for Seasons 5 and 6 with the expectation of a seventh season as well.
When Mad Men debuted in July 2007 it quickly became one of the most talked about series on television. Set in 1960s New York, Mad Men is a sexy and provocative original drama that follows the lives of the ruthlessly competitive men and women of Madison Avenue advertising.
Produced, distributed and owned by Lionsgate, Mad Men has made television history as the only cable series to win the Emmy Award for Outstanding Drama and the Golden Globe for Best Television Series-Drama for three consecutive years.
Mad Men's award-winning ensemble cast includes Golden Globe-winner Jon Hamm, January Jones, Elisabeth Moss, Vincent Kartheiser, Christina Hendricks, John Slattery, Jared Harris, Rich Sommer, Aaron Staton, Robert Morse and Kiernan Shipka.