Hulu bought all the 'Seinfeld' reruns for $1m each

Hulu has struck a deal with Sony Pictures Television to secure streaming rights for classic sitcom “Seinfeld,” according to The Wall Street Journal.

The deal is one of biggest digital acquisitions ever for the company, with Variety reporting its value at “just under a million per episode, which translates to a $US180 million windfall to be split by distributor Sony TV, Time Warner’s Castle Rock and ‘Seinfeld’ profit participants, including star/co-creator Jerry Seinfeld and co-creator Larry David.”

A person with knowledge of the agreement told the Journal that the deal would mean each episode is valued at approximately $US700,000.

Netflix initially expressed interest, but wound up spending about $US118 million on another 90’s sitcom, “Friends,” instead. Amazon and Yahoo were also said to be interested.

Hulu also announced it had bought the rights to a “Walking Dead” spinoff, most probably “Fear of the Walking Dead”, two seasons of which will premiere mid next year.

Select episodes of “Seinfeld” had been previously available online through Sony’s Crackle video platform, but this marks the first time the series will be available digitally in its entireity.

For those who prefer the traditional route, “Seinfeld” will still air in rapid succession on TBS until further notice.

NOW WATCH: Here’s What The ‘Seinfeld’ Diner Is Like In Real Life

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.