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Movies

Submission + - Verizon Mulling Netflix Buy (foxbusiness.com)

schwit1 writes: Shares of Netflix (NFLX) soared more than 6% Monday on a report that Verizon Communications (VZ) is considering buying the troubled movie renter.

Verizon is reportedly evaluating whether a purchase of Netflix could provide an entry into the video delivery business, DealReporter said, citing a source close to the matter.

The news comes as Netflix continues to struggle from a series of missteps earlier this year when it raised subscription prices and separated its DVD-by-mail service and streaming.

Netflix’s stock price plunged to a new 52-week low two weeks ago when the company warned it would fall to a loss in 2012 if it failed to boost its bruised customer base.

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Verizon Mulling Netflix Buy

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