Netflix outbids pay-TV for rights to Disney movies
SAN FRANCISCO (AP) — Netflix's video subscription service has trumped pay-TV channels and grabbed the rights to show Disney movies shortly after they finish their runs in theaters.
The multiyear licensing agreement announced Tuesday represents a breakthrough for Netflix as it tries to add more recent movies to its popular service that streams video over high-speed Internet connections.
It's the first time that one of Hollywood's major studios has sold the coveted rights to Netflix Inc. instead of a premium TV network such as HBO, Starz and Showtime.
Starz currently holds the rights to The Walt Disney Co.'s movies under a deal that expires in 2015.
Beginning in 2016, Netflix will be able to show Disney movies about seven months after they leave theaters.
Netflix didn't disclose how much it is paying Disney.
Fergie, Sarah Jessica Parker, and Heidi Klum all get an F on this week's Fashion Offenders.Watch Video »
Diva Double Date
Beyonce and Alicia Keys double date with their famous hubbies on today's Celebs Gone Social.Watch Video »
Where Are They?
See what the cast of "American Beauty" is up to today.Watch Video »
J.Lo's Mini Me
Jennifer Lopez shares an adorable photo of her look-alike daughter, plus more celebritots on social media on today's Celebs Gone Social.Watch Video »
Prince Harry, Jessica Alba and more stars who threw out the first pitch at baseball games.Watch Video »
Sofia Vergara poses in a revealing neon bikini while her "Modern Family" castmates hit the beach in Australia on Celebs Gone Social.Watch Video »
Like us on Facebook?
UP NEXTWeek in Photos
From Crowd Ignite