- Associated Press - Tuesday, August 10, 2010

COMING ATTRACTION: Netflix Inc.’s Internet streaming library will be adding thousands of more recently released movies as part of a five-year agreement with Paramount, Lionsgate and MGM. The new material will start showing up in Netflix’s streaming service Sept. 1.

HEFTY PRICE: Obtaining the rights will cost Netflix nearly $1 billion, but the company believes the streaming video will attract even more subscribers and reduce costs for mailing DVDs.

HOW IT WORKS: Netflix will get the streaming rights 90 days after the movies appear on Epix, a pay TV channel jointly operated by Paramount, Lionsgate and MGM.

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