Netflix and CBS reach international deal
By bbsbuzz - Thu Jul 28, 9:28 am
NEW YORK (Reuters) – Netflix Inc. has reached a deal with CBS Corp allowing the video rental service to stream shows such as “Californication,” “Dexter” and “Twin Peaks” to audiences in Latin America and Canada.
The deal runs for two years and follows a similar agreement between Netflix and CBS earlier this year covering streaming TV shows in the United States. Financial terms were not disclosed.
Netflix shares were up 2 percent at $272.25 in early trading on Nasdaq on Wednesday.
Netflix has already launched its service in Canada and is in the process of expanding to 43 countries in Latin America. It plans to soon expand into additional foreign markets.
CBS Corp, owner of the CBS broadcast network as well as Showtime, will make only a limited number of shows available through the deal. Those will include “Numb3rs,” “Sleeper Cell,” “The United States of Tara” and “Nurse Jackie,” leaving out some of its biggest network hits.