Deadline reports that it will be an abridged season of eight-episodes used to wrap things up in a satisfying manner.
"We were really excited we could get to an agreement" to provide "closure of the show for fans", said Sarandos, speaking Monday at UBS's Global Media and Communications Conference in NY.
Production is resuming next year on the sixth and final season of "House of Cards". Perhaps, more importantly, it means 2,000 people who work in the Baltimore area will continue to have work and not be punished for the misconduct of one person.
House of Cards was Netflix's first hit series when it debuted in 2013.
Claire Underwood is about to get her moment in the spotlight. The crew has continued to be paid while the show has been on hiatus.
Production is still on pause for the rest of the year, though. "The question is, can you shake up the market enough for big event movies to be only on Netflix?"More news: Ohio State coach Urban Meyer, Buckeyes react to College Football Playoff snub
Spacey's name has also been removed from the film's official poster.
It was announced in an official statement by Netflix that the company would no longer be affiliated with the once, critically-acclaimed actor following the on-going accusations against him.
The fate of House of Cards, the political drama starring Spacey as scheming politician Frank Underwood, was initially unclear.
Sarandos added that the season will provide closure for fans.
As RadarOnline.com has learned, Netflix made a decision to keep their popular show running, yet the plot of the next season has been entirely changed. The show has been renewed for its third and fourth seasons, and the sophomore season will be available for streaming on December 8.