Lions Gate Entertainment Corp., which produces the hit television series "Mad Men," is finalizing a deal with Netflix Inc. to stream all seven seasons of the critically-acclaimed show about a 1960s advertising agency, according to people close to the situation.

The deal is worth between $75 million and $100 million, the people said. That means Netflix is paying close to $1 million per episode of the series, which "Mad Men" creator Matthew Weiner said last week would run seven seasons. Each season features 13 episodes, which...