Hulu has struck the biggest deal in the online video site’s history for reruns of “Seinfeld.”

While terms of the negotiations have not been revealed, the per-episode value of the show it is approximately $700,000, according to the Wall Street Journal, and the acquisition is expected to be announced at a presentation in New York on Thursday.

Other bidders for the streaming rights to the hit 1990s NBC sitcom included Inc. and Yahoo. Netflix was originally interested but instead struck a deal for the streaming rights to “Friends.”

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Hulu is co-owned by Walt Disney Co., 21st Century FoxInc. and Comcast Corp.

Sony Pictures Television has the streaming rights to the comedy about nothing. However, according to WSJ, the majority of the revenue from the deal will go to Time Warner Inc.‘s Warner Bros., which acquired “Seinfeld” producer Castle Rock Entertainment as part of its purchase of Turner Broadcasting System in 1996.