Updated from 11:05 a.m. EDT

NEW YORK ( TheStreet) -- Netflix ( NFLX) and The CW network have struck a deal for streaming television content.

The network, which is a division of CBS ( CBS), will provide previous seasons of scripted series that air currently until the 2014-2015 season. This will give Netflix the rights to stream more than 700 hours of previous season episodes of series like The Vampire Diaries, Gossip Girl, 90210 and Supernatural.

The deal also includes new series like Hart of Dixie and Ringer.

Netflix has been aggressively focused on beefing up its television offerings, recently reaching a deal for new episodes of The Office and 30 Rock from NBC, and securing exclusive rights to the AMC series Walking Dead. The company is also developing an original series, House of Cards, staring Kevin Spacey.

It is also rumored that Netflix could get into the business of reviving canceled series , with both Arrested Development and Reno 911! being cited as possible contenders.

- Reported by Jeanine Poggi in New York.

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