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Evidently the quiet negotiations between Marshall Herskovitz and Edward Zwick with MySpace TV are over, as it's reported they have a deal in place with the social networking site to air an online series creation named "Quarterlife."

Herskovitz and Zwick have created "Blood Diamond," “The Last Samurai,” "Thirtysomething," "My So-Called Life" and "Relativity," among others.

The new web series has a substantial budget, with Zwick and Herskovitz saying the budget will be quite a bit more than the higher-priced web series which cost about $50,000 to $100,000 per episode. Unnamed sources originally said MySpace is willing to pay about $400,000 per episode, but now it seems there will be no licensing fee as part of the deal.

MySpace TV, which has offered other high-end online shows like "Prom Queen" and "Afterworld," said through Jeff Berman, general manager of MySpace TV, "“This is the single best-produced piece of serialized content for the Internet, ever.”

The story is about how "magazine editor and writer Dylan Krieger sends her friends into fits when they discover that she keeps a rather insightful video blog about them on a Web site called 'quarterlife.'"

The show will be presented online in six short-form episodes, which will be uploaded to MySpace TV on Sunday and Thursday night, starting on November 11.

Included in the initiative will be a second site called quarterlife.com, which will be unconnected to Myspace, but will still be used to promote the show, and other purposes as well.

MySpace will have the first day of the show exclusively, from there episodes will be run on quarterlife.com the next day, and eventually across the web after a week.

Starring in the show will be Bitsie Tulloch, Scott M. Foster, David Walton and Michelle Lombardo.