Lionsgate Television is finalizing a deal with Netflix for the exclusive internet streaming rights ofAMC’s Mad Men. The deal covers the previously broadcast four seasons, and the rest of the run through season seven. The deal is estimated to have cost Netflix around $1 million an episode (which adds up to something like $75 million to $100 million total).

The first four seasons of Mad Men will be available to Netflix subscribers beginning on July 27th 2011 on the company’s popular Netflix Instant Streaming service. The upcoming seasons won’t be added on an episode-by-episode basis, but instead by season. The Wall Street Journal explains that once the final episode of the fifth season airs on AMC in 2012, that entire season will also be made available online.

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