Why Are Streaming Companies Paying Hundreds Of Millions Of Dollars For Old TV Shows?

These pricey deals for what is essentially digital reruns have, like the Seinfeld syndication deal two decades ago, raised eyebrows. Why are streaming companies willing to pay so much for shows of nostalgic value? And as numerous companies prepare to launch their own streaming services – HBO Max and Peacock, not to mention the forthcoming Apple TV+ – why bet on the appeal of legacy TV shows? – The Guardian