"Sesame Street" is erecting a new sign, as it changes hands from HBO to Netflix. And of course PBS is getting a cut.

Starting later this year, new episodes will run on Netflix, PBS and the PBS Kids app on the same day.

Sesame Workshop laid off about 20 percent of its staff this year after several grants dried up, and, more significantly, it confronted a significant loss in revenue with the expiration of its current...