It may be losing Friends and The Office - but Netflix is set to pal up with Seinfeld.
All 180 episodes of the hugely popular sitcom are coming to Netflix in 2021, the streaming service announced Monday.
Netflix acquired global streaming rights from Sony Pictures Television as it fights to reinforce its catalog amid escalating streaming wars between platforms and legacy media companies vying for the rights to popular shows and the millions of viewers they bring in.
Terms of the deal were not disclosed, but a source familiar with the negotiations told CNBC that the price far exceeds the $425million that WarnerMedia paid for Friends and the $500million NBCUniversal paid for The Office - shows that have long been among the most-watched on Netflix.
Scroll down for video
All 180 episodes of Seinfeld are coming to Netflix in 2021 after the streaming giant signed a deal with Sony Pictures Television for global rights to the hugely popular 1990s sitcom
Netflix will hold the coveted rights to Seinfeld for five years starting in June of 2021, when Sony's contract with Hulu expires.
Hulu paid $130million for six years of US-only rights to Seinfeld in 2015, according to CNBC.
The Emmy-winning NBC sitcom dominated the airwaves from 1989 to 1998, ending its run while still the number one show in prime time.
It stars comedian Jerry Seinfeld as a version of himself going through single life in Manhattan with his pals, Jason Alexander as George, Julia Louis-Dreyfus as Elaine and Michael Richards as Kramer.
'Seinfeld is the television comedy that all television comedy is measured against,' Ted Sarandos, Netflix's chief content officer, said in a statement about the acquisition. 'It is as fresh and funny as ever.'
Sony Pictures Television Chairman Mike Hopkins told the Los Angeles Times: 'Seinfeld is a one-of-a-kind, iconic, culture-defining show.
'Now, 30 years after its premiere, Seinfeld remains center stage. We're thrilled to be partnering with Netflix to bring this beloved series to current fans and new audiences around the globe.'
Netflix topped bids from Hulu, Amazon, WarnerMedia, NBCUniversal and Viacom, which controls the CBS All Access streaming service since its merger with CBS Corp, according to people familiar with the deal.