Netflix Stock
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Reports surfaced Monday that the telephone giant is interested in bidding for the leading streamer of movies and TV shows.
Netflix Stock
Ryan Anson/AFP/Getty ImagesReports surfaced Monday that the telephone giant is interested in bidding for the leading streamer of movies and TV shows.
Neflix shares briefly jumped more 7 percent in afternoon trading on Monday as reports surfaced that Verizon is interested in acquiring the company.
News Corp. President Discusses Hulu, Netflix, YouTubeNetflix's Reed Hastings Calls HBO Go His Primary CompetitionThe scenario is unlikely, some analysts said, and Wall Street traders seem to agree, judging from the way the stock settled into a milder. less-than 5 percent gain after an initial spike.
Verizon clearly has something in the works, though, in regard to streaming movies and TV shows over the Internet, judging from the rumor mill of late.
Early last week, reports suggested the telco was preparing to go it alone in creating an alternative to Netflix and Hulu, but by late-week some were reporting that a deal with Redbox for such a service was imminent. Verizon CEO Lowell McAdam also revealed last week that it considered an acquisition of Hulu.
Reports of a new subscription service that would compete with the likes of Netflix and Hulu caused Coinstar stock to jump 8 percent.
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