Netflix just saved teen favorite 'Degrassi' from cancelation

Classes will continue at Degrassi Community School.

Netflix has picked up Canadian teen drama "Degrassi: The Next Generation" after last week's announcement by TeenNick that the show would end after 14 seasons this summer.

Netflix, in partnership with Canada's Family Channel, will air 20 new episodes of the series in 2016, though it will be retitled "Degrassi: New Class." Many of the show's stars are expected to reprise their roles on the next chapter of the franchise.

"We are energized and excited to work with Family Channel as we tell stories for the new post-millennial teen cohort known as Generation Z, most of whom weren't even born when 'Degrassi' returned in 2001," show co-creator and executive producer Linda Schuyler said in a statement to EW.

Netflix, like other streaming video companies such as Hulu and Yahoo, has been building a reputation for saving cult series from cancelation. Shows Netflix has brought back from the dead include "Arrested Development," "The Killing," and "Star Wars: The Clone Wars."

Netflix didn't immediately respond to Business Insider's request for comment.