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Janney analyst Tony Wible upgraded Starz to “Neutral” from “Sell” and bumped his estimate on the shares to $16 from $10.50. It remains to be seen how much Starz can offset the higher costs of the deal by raising prices on TV distributors, he noted.

Starz shares rose $1.24, or 7.4 percent, to close at $17.91. Netflix shares fell $3.08, or 1.7 percent, to $177.89. U.S.-traded shares of Sony Corp. shares rose 7 cents to $14.99.