NEW ORLEANS — Cabler TBS has picked up cable off-network rights to the CBS sitcom “Everybody Loves Raymond” for a four-year term beginning in fall 2004.

The deal between TBS and “Raymond” distrib Eyemark Entertainment had been expected. Eyemark execs would not comment on financial terms, but sources pegged the per-episode license fee in the low six-figure range.

Eyemark also will collect 90 seconds of barter advertising time in each run of the show, as is becoming the norm with significant cabler off-net purchases. Eyemark is limiting TBS to one run of “Raymond” per day, five days a week, in an effort to keep the reruns from becoming overexposed.

The cable window for the sitcom’s reruns kicks in during the third year of its initial syndie run as a Monday-Friday strip on broadcast outlets. Eyemark has been pulling in healthy coin for “Raymond” rerun rights in major markets. Buyers thus far include Tribune-owned outlets in Gotham, L.A. and Chicago.