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Amazon gets Epix video rights to challenge Netflix
Question of the Day
Netflix has entered into Internet video licensing contracts that could require the company to pay as much as $4.5 billion through June 2015, according to its latest quarterly report. The rising cost of online content has caused Netflix to carefully assess the financial pros and cons when the deals come up for renewal. Netflix lost the rights to video from the Starz channel earlier this year after concluding the content wasn’t worth the asking price.
Tuesday’s sell-off in Netflix’s stock also may have been driven by investors who had been betting the company will eventually be sold to Amazon. That prospect has been considered a long shot by most analysts, and the chances look even more remote now that Amazon has landed the Internet video rights to some of the most prized content in Netflix’s streaming library.
Lions Gate’s shares rose 44 cents, or 3 percent, to close at $15.22, while Viacom Class B shares fell 65 cents to finish at $49.36. Amazon’s stock dipped 39 cents to close at $247.88.
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