Netflix (NFLX) is a "Chimp," Not a Gorilla Says Time Warner CEO
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Netflix Inc. (NASDAQ: NFLX) was a Wall Street darling in 2010, as the media distribution company continues to penetrate markets, however Time Warner Inc. (NYSE: TWX) CEO Jeff Bewkes is not impressed.
"I would say it [Netflix] is like a 200 pound chimp — it's not an 800 pound gorilla," Bewkes told said in an interview on Thursday with CNBC.
Bewkes said that the he does not consider an online DVD subscription and streaming service company as a threat to Time Warner's HBO television service.
"No, it's just another competitor," Bewkes said, "We have plenty of competition that's fine."
Shares of Netflix are down $1.75 to $177.98 in late market movement on Thursday.
"I would say it [Netflix] is like a 200 pound chimp — it's not an 800 pound gorilla," Bewkes told said in an interview on Thursday with CNBC.
Bewkes said that the he does not consider an online DVD subscription and streaming service company as a threat to Time Warner's HBO television service.
"No, it's just another competitor," Bewkes said, "We have plenty of competition that's fine."
Shares of Netflix are down $1.75 to $177.98 in late market movement on Thursday.
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