New York (CNN Business) Netflix may be losing Michael Scott and Chandler Bing, but it's gaining Jerry Seinfeld and Cosmo Kramer.

Netflix NFLX "Seinfeld," one of the most popular sitcoms in TV history, is heading tostarting in 2021, the streaming company announced on Monday.

Netflix will be the exclusive global streaming home to the sitcom. The financial terms of the deal, which Netflix struck with distributor Sony Pictures Television, were not disclosed. The deal lasts five years.

Disney DIS Licensed content like "Seinfeld" has become a major weapon in the streaming wars. Legacy media companies likeand WarnerMedia, CNN's parent company, are pulling some of their most beloved shows from Netflix in an effort to draw subscribers to their own streaming services.

Nabbing the rights to "Seinfeld" is a big boost for Netflix, which has suffered the losses of two popular licensed shows in "Friends" and "The Office" in recent months. The company announced in June that "The Office" would be leaving Netflix for NBCUniversal's upcoming streaming service in 2021. WarnerMedia announced in July that "Friends" would be exclusive to its HBO Max service starting next year.

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