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Netflix Pays Nearly a Billion Dollars to Add Paramount Pictures, Lions Gate and MGM
Finally, more movies will be available on Netflix. I may actually reconsider signing up again.
At a cost of nearly one billion dollars, Netflix on Tuesday said it would add films from Paramount Pictures, Lions Gate and MGM to its online subscription service.
It was a coup — albeit a costly one — for Netflix, which knows its needs to lock up the digital rights to films as customers stop receiving DVDs by mail and start receiving streams via the Internet. The deal will commence Sept. 1.