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Sky One has picked up the exclusive rights to air new seasons of Lost in the UK.

The deal with distributor Buena Vista International Television covers seasons three and four of the cult drama, which has an audience of around 4 million viewers in the UK.

Channel 4 originally signed the series on a two-year deal in 2004 and has been in contract renewal negotiations with BVITV for several months. It is understood that Sky - who successfully poached 24 from the BBC in 2003 - outbid C4 and other rival broadcasters for the new contract.

"We are confident that Sky will build upon the established success of Lost, bringing the series to viewers in flexible ways, ideally suited to its watercooler, must-see status," said Tom Toumazis, evp at BVITV EMEA.

The "flexible ways" will include opportunities to watch the latest episodes via broadband and mobile platforms. The series is also likely to air in high definition on the Sky One HD channel.

Sky One head Richard Woolfe said that Lost had been "the envy of every network" since its launch on Channel 4 last year. "The series has defined TV drama over the last two years," he added. "We are absolutely thrilled to bring it to Sky One."

Having lost Lost - one of its most acclaimed imports ever - Channel 4 will now be fighting hard to retain another of its key acquisitions, Desperate Housewives. The broadcaster signed the drama on the same two-year deal as Lost but has yet to agree terms for a new contract.