Netflix Nears Over $100M Streaming Deal with Miramax: Report

By Mar 26, 2011, 12:13 AM Author's Blog  

Independent film studio Miramax is close to finalizing a deal with Netflix (NFLX) to distribute the studio’s 700-film library online, according to a report from the Wall Street Journal Friday.

It’s not clear when the agreement is expected to close, however the terms for any deal would likely exceed $100 million over five years, sources told the Journal.

Netflix had no comment on the report.

The deal would be a coup for the investor group, Filmyard Holdings LLC that purchased Miramax from Walt Disney (DIS) last year for $660 million. To earn back its investment, the company is aggressively looking at striking a slew of digital deals for the studio’s library.

The report also noted that Miramax has held talks for streaming deals with Amazon (AMZN) and Facebook, though they’re not as close to closing them.

For Netflix, which is trying to assemble a vast library of catalog titles to drive its online subscription business, the deal represents a significant addition to its on-demand streaming library.

Miramax’s more than 700 titles include iconic film titles such as “Shakespeare in Love,” “Good Will Hunting,” “Pulp Fiction,” “Kill Bill,” “No Country for Old Men” and “Bridget Jones’s Diary.”

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