UPDATE: Netflix's (NFLX) Reed Hastings Says China is Not Looking Good

October 7, 2016 9:19 AM EDT

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(Updated - October 7, 2016 9:24 AM EDT)

Netflix (NASDAQ: NFLX) CEO Reed Hastings, at a conference in New York, said the likelihood of entering the Chinese market "is not looking good," according to a Bloomberg headline.

Theater chains are strangling the movie business, Hastings added. He went on to say "We're focused on the rest of the world."

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