Netflix to expand streaming library
The movie-rental company joins forces with Nu Image and Millennium Films.
By Jeanine Poggi, TheStreet
Netflix (NFLX) announced a deal on Wednesday that will expand its streaming library.
The movie-rental company will partner with Nu Image and Millennium Films, which will give Netflix rights to stream first-run theatrical films distributed through the studio during the "pay TV window." The films typically have been licensed to premium TV channels.
Netflix has been expanding its content library in recent months through agreements with Fox, MTV Networks and Warner Television. The company is also trying to attract more customers to its streaming service. Post continues after video:
Nu Image and Millennium Films are best known for big-budget action and thriller movies, including "The Expendables," "Brooklyn's Finest," "Righteous Kill" and "Black Dahlia."
Netflix shares have doubled during the past year, while the
S&P 500 ($INX) has lost 1%.
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The offering could become the second-biggest this year if underwriters exercise an option to buy more shares.
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