$1 billion! Warner's HBO Max streaming platform buys "The Big Bang Theory"

According to foreign media reports, just as Netflix had just acquired the streaming rights to "Seinfeld" for more than $500 million, HBO Max, a subsidiary of WarnerMedia, acquired the rights to "The Big Bang Theory" for more than $1 billion.

The deal will give HBO Max exclusive streaming rights to The Big Bang Theory for five years. The deal also extends the joint agreement between Warner Bros. Television and CBS to 2028, with an estimated value of $600 million.

This is one of the largest deals in the industry to date, although part of it has to do with syndication rights to traditional cable TV. NBCUniversal reportedly paid about $500 million for the streaming rights to "The Office," and WarnerMedia spent $425 million to reacquire the rights to "Friends." The series will be broadcast on NBCUniversal's as-yet-unnamed streaming service and HBO Max.

“We are delighted that HBO Max will be the exclusive streaming platform for this comedy giant when it launches in spring 2020,” Robert Greenblatt, chairman of WarnerMedia’s entertainment and direct-to-consumer divisions, said in an interview. “This show has been a huge hit around the world and is one of the most popular TV shows of the past decade. It’s a surprise for our new product that we can bring it to a U.S. streaming platform for the first time.”

The Big Bang Theory is rumored to be one of the hottest shows in the bidding war for streaming platforms. Meanwhile, there are rumors that Two and a Half Men, another Chuck Lorre-produced series, will also be sent to HBO Max. The report did not specify whether the deal is still in the works.

While The Big Bang Theory airs on CBS, which also has its own streaming competitor, CBS All Access, the show was ultimately acquired by Warner Bros. Television.