Netflix (NFLX) Gains on Worldwide Liberty Global Deal

September 14, 2016 10:22 AM EDT

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Netflix (NASDAQ: NFLX) is 1.8% early Wednesday after Liberty Global plc, the world's largest international cable TV and broadband company, announced a multi-year partnership with Netflix to make its content available to Liberty Global video customers across more than 30 countries around the world.

Mike Fries, CEO of Liberty Global, said, "We are committed to bringing the best content to our customers, and are thrilled to expand our partnership with Netflix. This deal will provide even more freedom to our subscribers – allowing them to access a goldmine of amazing TV and films at the click of a button, fully integrated into their usual TV viewing set-up."

Reed Hastings, Netflix CEO, said, "This partnership builds on our strong relationship with Virgin Media in the UK, allowing millions of our mutual customers around the world to easily access the broadest range of TV shows and movies without having to search for that other remote control. Combining the Netflix app - and all the great content it provides - into the familiar, easy-to-use cable box makes both more appealing."

The Netherlands will be the first new Liberty Global territory to launch Netflix on the Horizon box as part of this partnership. The rollout will advance to other countries as technological upgrades across all of Liberty Global’s operations continue through 2017.

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