Channel 4 has acquired the classic U.S. sitcom Friends for a January 2027 launch on its former U.K. home, returning to the outlet since its last airing on the broadcaster in 2011.

Speaking at the UBS Global TMT Conference shortly after Paramount’s all-cash rival offer, Netflix Co-CEOs Greg Peters and Ted Sarandos laid out the rationale for the game-changing deal to acquire Warner Bros.

Netflix will acquire Warner Bros. following its separation from Discovery Global for $82.7 billion.