Netflix nears over $100 million deal with Miramax: source
NEW YORK (Reuters) - Movie rental company Netflix Inc is close to an agreement with Miramax to stream the studio's library in a deal that would be worth "well north of" $100 million over five years, according to a source familiar with the deal.
Miramax's more than 700 titles include hits such as "Pulp Fiction" and "Good Will Hunting."
Netflix and Miramax declined to comment.
The Wall Street Journal earlier reported the two sides were nearing a deal, although the publication initially put the figure at $50 million over five years before changing to the higher amount.
Netflix started in the United States as a mail-in DVD service, but recently said the vast majority of its U.S. subscribers stream content on a range of devices.
Miramax, meanwhile, is aggressively seeking distribution deals, the Journal reported.
(Reporting by Lewis Krauskopf; editing by Carol Bishopric)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.