Netflix (NFLX) Gets Revenge on Liberty Media (LMCA)
Tweet
Share
E-mailGet Alerts NFLX Hot Sheet
Join SI Premium – FREE
In 2011, Liberty Media’s Starz entertainment ended a deal to provide steaming services to Netflix. The move ended Netflix rights to Disney (NYSE: DIS) and Sony titles, and caused well publicized pain to Netlix and its shareholders. Today, to the chagrin of Liberty and Starz, Netflix got its revenge by reaching its own deal with Disney.
The deal announced today gives Netflix Inc. (Nasdaq: NFLX) a new multi-year licensing agreement that will make Netflix the exclusive U.S. subscription television service for first-run live-action and animated feature films from The Walt Disney Studios. Starz currently holds the rights to The Walt Disney Co.'s movies but that deal will expire in 2015, when Netflix takes over.
Speaking in an interview today, Netflix, Inc. Chief Content Officer Ted Sarandos said the company may bid for Sony (NYSE: SNE) movie rights as well.
Following the announcement, Netflix shares popped 13 percent while shares of Liberty Media Corporation (Nasdaq: LMCA) tanked.
This is the first time a major studio sold rights directly to Netflix Inc.
The terms of the agreement between Netflix and Disney were not disclosed.
The deal announced today gives Netflix Inc. (Nasdaq: NFLX) a new multi-year licensing agreement that will make Netflix the exclusive U.S. subscription television service for first-run live-action and animated feature films from The Walt Disney Studios. Starz currently holds the rights to The Walt Disney Co.'s movies but that deal will expire in 2015, when Netflix takes over.
Speaking in an interview today, Netflix, Inc. Chief Content Officer Ted Sarandos said the company may bid for Sony (NYSE: SNE) movie rights as well.
Following the announcement, Netflix shares popped 13 percent while shares of Liberty Media Corporation (Nasdaq: LMCA) tanked.
This is the first time a major studio sold rights directly to Netflix Inc.
The terms of the agreement between Netflix and Disney were not disclosed.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham Upgrades Netflix (NFLX) to Buy, 'on Rev Upside from Tech Stack'
- Silicon Labs (SLAB) Appoints Radhika Chennakeshavula as CIO
- Stocks expected to have increasing option volume: NFLX JBL PARA SONY JWN AXP
Create E-mail Alert Related Categories
Corporate News, General NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
