Netflix (NFLX) Gets Revenge on Liberty Media (LMCA)
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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.
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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.
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