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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Netflix and Epix strike programming deal Reuters - Wednesday, August 11 Send IM Story Print Netflix CEO Reed Hastings speaks during the unveiling of the iPhone 4 by Apple CEO Steve Jobs at the Apple Worldwide Developers Conference in San Francisco, California June 7, 2010. REUTERS/Robert Galbraith Slideshow: Full Photo Coverage: Personal Technology NEW YORK - Netflix Inc reached an exclusive deal that allows members of the online video rental site to watch new films from the three studios that own the pay TV channel, Epix. Netflix shares were up about 6.2 percent at $124.15 on the NASDAQ in midday trading. The deal makes Netflix the exclusive Internet-only distributor of movies from Paramount Pictures, Metro-Goldwyn-Mayer Studios and Lions Gate Entertainment Corp, a library that includes "Iron Man" and the "Saw" franchise. The films will be available 90 days after their premium pay TV and on-demand debuts. Epix is owned by Viacom Inc and its Paramount Pictures unit, Lions Gate and MGM. The financial terms of the deal were not disclosed though a source familiar with the arrangement said the agreement runs for five years and is worth close to $1 billion. J.P. Morgan analyst Imran Khan wrote in a note the deal is a positive for Netflix because the increased availability of streaming content will help prevent subscriber turnover. Lions Gate said during an earnings call on Tuesday the agreement with Netflix makes Epix "immediately profitable." Lions Gate executives said the 90 day window in the Netflix agreement was set to protect its cable partners. Epix is available in over 30 million homes through carriage agreements with Verizon Communications Inc FiOS, Dish Network Corp, Cox Communications and Mediacom Communications Corp, among others. Recommend Send IM Story Print Related Articles US-TECH Summary Reuters - 18 minutes ago Obama signs 'libel tourism' bill AFP - 46 minutes ago Saudi watchdog backtracks on BlackBerry ban AFP - 1 hour 31 minutes ago Putin wants Russian satnav system in new cars from 2012 AFP - 2 hours 31 minutes ago Florida to sue major LCD makers for price fixing Reuters - Wednesday, August 11 News Search Top Stories Chelsea agree Carvalho fee with Real A long, hot Ramadan for many devout Muslims BP spill cases to be heard in New Orleans US Fed promises stimulus to help slowing recovery InterContinental Hotels to create 160,000 jobs worldwide More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Sauna contest in Finland cut short as Russian dies Massive ice island breaks off Greenland glacier Visitors attack Taiwan 'haunted house' actors BP spends $6.1 bln on Gulf spill response Extreme weather fuels debate over global warming More Most Viewed » Argentine students crack three-decade-old murder mystery 40 US billionaires pledge half wealth to charity World's first full face transplant man appears on TV Calcium supplements linked to heart attacks: study Massive ice island breaks off Greenland glacier More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010

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