Sony NYSE:SNE extends with Starz NASDAQ:STRBZ til 2021
Sony NYSE:SNE extends with Starz NASDAQ:STRBZ til 2021
NFLX, DIS, LMCA
Sony Corp. and Starz extended the multi-year agreement under which Starz is the exclusive first-run TV outlet for new movies from Sony.
The deal will runs through Y 2012, replacing a prior agreement that would have expired in Y 2016.
In December, Netflix Inc. NASDAQ: NFLX signed a deal with The Walt Disney Co. NYSE: DIS, outbidding Starz and its sister Encore channels which were still owned at the time by Liberty Media Corp. NASDAQ: LMCA.
The Netflix deal with Disney starts in Y 2016, after Disney’s current contract with Starz expires. Netflix is thought to be paying about $300-M annually for the exclusive streaming rights to films from Lucasfilm’s Star Wars franchise, Pixar Animation Studios, and Marvel Studios among others.
Starz countered, the deal with Sony is the response.
Netflix needs to add about 3.7-M subscribers between now and Y 2016 to pay for the Disney deal without raising its monthly subscription rate.
Netflix shares are getting hannered Monday, down about 2.5% at 175.85 after a 2.5 wk run of nearly daily 52-wk highs. Stay tuned.
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