"Two and a Half Men"/photo:CBS.com

LOS ANGELES (Hollywood Reporter) - Cable channel FX has snapped up rerun rights to television's No. 1 comedy, the CBS series "Two and a Half Men."

Its deal with the show's syndicator, Warner Bros. Domestic Cable Distribution, is valued at about $750,000 per episode, and begins in 2010, sources said. A Warner Bros. spokesman confirmed the deal but declined further comment, as did FX.

The Charlie Sheen comedy, which was the highest-rated half-hour series on TV this past season in both total viewers and the coveted adults 18-49 demographic, is believed to be the second-richest cable deal ever for an off-network comedy, behind only the $1 million per episode "Seinfeld" fetched from Turner Broadcasting's TBS in 1998. TBS last year ponied up $650,000 per episode for "Everybody Loves Raymond."

The "Two and a Half Men" sale, which closed July 13, comes less than a month after Warner Bros. unloaded "Men" to Tribune Broadcasting stations for fall 2007. Sources indicated the terms of the FX deal largely mirror that of the Tribune pact, including an online component that allows the channel to stream five episodes per week off its Web site.

The sale of "Men" may very well mark the end of an era in the television business because the CBS sitcom has long been considered the only true hit comedy left in the syndication pipeline. Comedy sensations like "Friends" and "Seinfeld" can generate billions of dollars in syndication, but the networks have struggled to develop similar hits in recent years.

The "Men" cable deal is believed to end in 2014, and allow FX to run episodes 12 times per week, including twice on weekends. By the time "Men" is ready for FX, the series will be into its seventh season. The network also retains rights to seasons produced after 2010.

The show recently earned three Emmy nominations for comedy series, actor in a comedy for Sheen and supporting actor in a comedy for Jon Cryer.

Though known primarily for its edgy original dramas, such as "Rescue Me" and "The Shield," FX does make use of off-network comedies, such as Fox's "That 70s Show."

Reuters/Hollywood Reporter