CBS and Warner Bros have agreed on a three year renewal of the hit sitcom,The Big Bang Theory, according to a CBS press release.

The serial will continue through the 2013-14 season. The new license fee for the show is around $4 million per episode - almost four times the current fee for the comedy .

This is similar to the two-year renewal of Two and a Half Men, another Warner Bros TV production aired by CBS TV.

The Big Bang Theory ratings have continuously grown since its launch in 2007. According to the release, “It finished 2009-2010 as primetime's No.1 scripted series in adults 18-49 and the No.2 comedy among viewers. Currently in its fourth season, The Big Bang Theory has successfully transitioned to its new Thursday time period (8:00-8:30 PM, ET/PT), emerging as the night's dominant comedy in viewers and adults 18-49. It has also helped launch a second night of comedy for the Network. The comedy is averaging 13.89 million viewers +7 percent versus the year ago time perio. It has shown a 15 per cent increase in adults 18-49 and 16 per cent in adults 25-54.”

It doesn't take a theoretical physicist to see why this show is a BIG part of our comedy future, said Nina Tassler, President CBS. From ratings to critical acclaim to pop culture buzz, it's struck a chord on all levels. The creative genius of Chuck Lorre and Bill Prady and the on-camera talents of an amazing young ensemble have created a comedy that will entertain viewers for a long time.”

The stars of the show, Kaley Cuoco, Johnny Galecki and Jim Parsons, reportedly negotiated new contracts that garnered a triple fold increase in salaries translating to roughly $200,000 per episode.

CBS is ready to pay such a large amount as they garnered a huge license fee of $2 million per episode in syndication sales for the comedy.