I don't know if it would run into the same insurmountable rights problems that's kept the Batman series from being released legitimately on DVD. I don't know if it has been released and if not, why.

I was watching an episode where the Hornet was trying to uncover a fortune in heroin on board an abandoned freighter at a shipyard and one of the bad guys was watching the Batman show on TV. I didn't realize that William Dozier was advertising for Batman the same way he advertised the Green Hornet on the Batman show.