The Emmy-winning 1960 drama Mad Men will return for at least two more seasons, with creator Matthew Weiner now on board.

AMC and Lionsgate Television Group announced late Thursday that they'd struck a deal with the Mad Men creator and executive producer to continue with the influential show.

Both sides had been embroiled in protracted negotiations for several months, leading to the delay of the show's return for its fifth season. The series has previously started each season in the summer.

Earlier this week, AMC announced that Mad Men would not return until early 2012.

Weiner has signed a new long-term contract that has an option to extend into a potential seventh Mad Men season, Lionsgate said.

"I want to thank all of our wonderful fans for their support," Weiner said in a statement.

He also thanked ABC and Lionsgate "for agreeing to support the artistic freedom of myself, the cast and the crew so that we can continue to make the show exactly as we have from the beginning."

Weiner's deal is reportedly worth about $10 million US per year.

He compromised on one of the sticking points during the negotiations: the issue of the drama's running time.

Weiner agreed to the show running two minutes shorter (45 minutes versus 47) to allow for more ads in all episodes — except for the fifth season's premiere and finale. However, he has the option to create 47-minute versions for other platforms, such as iTunes, video on demand and DVDs.

The main cast has also signed on for two further seasons.

In an interview Thursday night, Weiner said he expects Mad Men to end in a seventh season.

"That's how long the show is," he said, according to the New York Times. "I'm just thrilled I get to finish it."

The acclaimed ensemble drama is set in 1960s Manhattan and stars Jon Hamm as an advertising executive and divorced father of three navigating the tumultuous era.

With files from The Associated Press