"We were really excited we could get to an agreement... for the conclusion of the show", Sarandos said at UBS's Global Media and Communications Conference in NY.
The future of the hit TV show had been left uncertain, after Kevin Spacey was sacked following allegations of sexual misconduct.
Instead of the power-hungry politician Frank Underwood, played by Spacey, the star of the last season will be USA actress Robin Wright, in the role of Underwood's wife Claire.
Oregon's Willie Taggart reportedly finalizing contract with FSU
If Taggart is offered the Florida State job, he is expected to accept the position, with a formal announcement coming Tuesday. Taggart, who was hired at OR in December of 2016, went 7-5 in his first season with the Ducks.
Netflix had suspended production on the show earlier this month in the wake of allegations of misconduct against its lead Kevin Spacey. Spacey was also accused of trying to seduce a teenager in 1986.
It is also reported that the House of Cards producers are contemplating killing off Spacey's character, the devious Frank Underwood and focusing on Robin Wright's character Claire Underwood in the season ending.
Claire Underwood has moved center stage since "House of Cards" premiered in 2013, going from the wife of Spacey's congressman to first lady and then vice president.
The Old Vic has said that an internal investigation found 20 people claimed they had been the victims of inappropriate behaviour by Spacey.
Netflix has given the green light for eight episodes of the popular TV series to be filmed in order to "bring closure" for fans.