Tuesday, August 10, 2010

Reuters-Netflix and Epix Join Forces in Major Programming Deal

Netflix Ceo Reed Hastings: Robert Galbraith/Reuters
(Story reported by Jennifer Saba and Yinke Adegoke for Reuters News)

(Reuters) - Netflix Inc reached an exclusive deal that allows members of the online video rental site to watch new films from the three studios that own the pay TV channel, Epix.
Netflix shares were up about 6.2 percent at $124.15 on the NASDAQ in midday trading.

The deal makes Netflix the exclusive Internet-only distributor of movies from Paramount Pictures, Metro-Goldwyn-Mayer Studios and Lions Gate Entertainment Corp, a library that includes "Iron Man" and the "Saw" franchise.

The films will be available 90 days after their premium pay TV and on-demand debuts.

Epix is owned by Viacom Inc and its Paramount Pictures unit, Lions Gate and MGM.

(click here to read the full story on the Reuters News website)

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