Netflix Stock Up After Weinstein Company Re-Up
Netflix, Weinstein Co To “Reinvent” Pay-TV Experience With New Multi-Year Pact
After The Weinstein Company early this morning announced a new deal that makes Netflix its exclusive U.S. subscription television service for first-run films starting in 2016, Netflix stock was trading at above $268, nearly +9 points (+3.4%) from yesterday’s close. Based on its nearly 59 million shares outstanding, that’s an increase in Netflix market value by more than $500 million in a market that overall is up less than 1% today. So who says quality film libraries don’t have value, even if the pay cable rage now is to generate original content?