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Netflix strikes exclusive multiyear deal with 'Stranger Things' producer

Netflix Inc. said Dec. 6 it inked an exclusive multiyear deal with Shawn Levy, director and producer of the hit Netflix series "Stranger Things."

The deal will see Levy and his production company 21 Laps developing new TV series for the streaming giant. As part of the deal, Levy tapped former ABC Entertainment creative executive Josh Barry as president of 21 Laps Television.

Netflix, in recent months, entered into similar deals with other show producers such as Jenji Kohan and Shonda Rhimes