It's shaping up as a battle royale between Netflix (NFLX) and Disney (DIS) , after the streaming service poached one of ABC's top showrunners.

Netflix has signed a multi-year deal with Shonda Rhimes, the creator Grey's Anatomy and Scandal, the group said early Monday, after Disney last week said it won't pull its content from the service.

Shonda Rhimes will bring her ShondaLand production company to Netflix under a multi-year deal to produce new series and other projects. Rhimes's long time producing partner, Betsy Beers will also move to Netflix. Shondaland has been based at Disney's ABC Studios, which has agreed to release her from a pact almost a year early.

Shondaland has created and produced shows including How to Get Away With Murder and Private Practice. The shows will continue to air on ABC in the U.S.

Currently How to Get Away with Murder streams everywhere else in the world on Netflix, with Grey's Anatomy and Scandal available on Netflix in many regions as well.

The deal is a coup for Netflix as it battles it out to become a premiere content creator. The terms of the deal were not disclosed.

"Shondaland's move to Netflix is the result of a shared plan [Netflix Chief Content Officer] Ted Sarandos and I built based on my vision for myself as a storyteller and for the evolution of my company," Rhimes said in a statement. "Ted provides a clear, fearless space for creators at Netflix. He understood what I was looking for -- the opportunity to build a vibrant new storytelling home for writers with the unique creative freedom and instantaneous global reach provided by Netflix's singular sense of innovation. The future of Shondaland at Netflix has limitless possibilities."

The move comes a week after Disney said it would pull its content from Netflix in 2019, in a bid to create its own streaming service.

Netflix shares closed at $171.40 on Friday, after gaining 1.34%on the session. Shares lost 4.92% in the past five days after Disney's announcement.

Watch More with TheStreet:

More from Futures

GE Beats Earnings Estimates and 4 Other Stories You Must Know Friday Morning

GE Beats Earnings Estimates and 4 Other Stories You Must Know Friday Morning

Amazon Prime Tops 100 Million Members and 4 Other Stories You Must Know Thursday

Amazon Prime Tops 100 Million Members and 4 Other Stories You Must Know Thursday

Commodities Surge as Energy Stocks Lead Market Higher

Commodities Surge as Energy Stocks Lead Market Higher

IBM Earnings and 4 Other Business Stories You Must Know Wednesday Morning

IBM Earnings and 4 Other Business Stories You Must Know Wednesday Morning

IBM, Morgan Stanley, Southwest - 5 Things You Must Know Before the Market Opens

IBM, Morgan Stanley, Southwest - 5 Things You Must Know Before the Market Opens