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

Market Movers: December FOMC Meeting

Market Movers: December FOMC Meeting

Why Did Markets Respond This Way to China Trade News?

Why Did Markets Respond This Way to China Trade News?

Striking Options: Tremendous Volatility, Energy, and Equities

Striking Options: Tremendous Volatility, Energy, and Equities

3 Geopolitical Risks Traders Will Watch in 2019

3 Geopolitical Risks Traders Will Watch in 2019

Economist Perspective: Can U.S. Dollar Keep Its Momentum in 2019?

Economist Perspective: Can U.S. Dollar Keep Its Momentum in 2019?