netflix

With Icahn, Netflix management is in fight for existence

Netflix management faces perhaps the biggest threat to its existence in the form of Carl Icahn, the famed corporate raider.

Icahn acquired a little under 10 percent of Netflix's shares last week and made noise about how sees a way to profit from the potential sale of the Web's top video rental service -- a company that has struggled mightily in the past 15 months with a customer-alienating price increase and missed projections.

In a financial career that has spanned more than 30 years, Icahn has developed a reputation for being someone who can unlock value at troubled … Read more

Rumor has it: Amazon to launch original musical comedy series

Amazon may be taking a cue from Netflix and Hulu and setting its sights on creating an original content TV series. According to Variety, the Web giant is about to greenlight a new comedy series called "Browsers."

This comedy will apparently be a musical based on four interns working in a newsroom similar to the Huffington Post, Variety reports. The series was first made for CBS but was then shopped to Amazon via production company Netco. (Disclosure: CBS is the parent company of CNET News.)

If indeed Amazon is working on releasing "Browsers," it would be … Read more

Netflix preps poison pill to fend off Icahn

Netflix said last week it could work with Carl Icahn, but now its managers are girding for battle.

The Web video-rental service said today that it is preparing what is commonly referred to as a poison pill, in an effort to fend off attempts from outside companies from making a hostile bid to takeover Netflix. The statement below does not name investor Carl Icahn, but after the billionaire and former corporate raider acquired just under 10 percent of Netflix's shares last week, it's obvious he is the motivation for this action.

The Netflix board of directors approved the … Read more

Netflix readily accepts Icahn's business advice

After Carl Icahn snapped up a 10 percent stake in Netflix, which caused a 15 percent jump in the company's stock shares yesterday, the streaming-video company announced that it's ready to listen to Icahn's business advice.

"We have many shareholders, now including Mr. Icahn, and we're always open to their perspective on how to build on our success," a Netflix representative told CNET in an e-mailed statement.

Icahn's history as an investor is full of high-profile proxy fights and tussles with management. In recent years, he has fashioned himself as an investor activist. … Read more

With Icahn move, Netflix is now officially in play

Shares of Netflix jumped sharply after an SEC filing disclosed that financier and former corporate raider Carl Icahn has taken a nearly ten percent stake in the streaming-video and DVD rental company.

The filing notes that Icahn Capital LP, an investment firm controlled by Icahn, and associated entities bought 5.54 million shares of stock in the company, plus call options, for $168.9 million. In remarks filed with the announcement, the group suggests Netflix is undervalued.

The disclosure of Icahn's investment comes just days after rumors that Microsoft might also be sniffing around Netflix. Unconfirmed rumors on Friday … Read more

Roku cross-platform search supports Netflix, Amazon Instant, Hulu Plus, HBO GO, Vudu

Streaming video may be the epitome of instant gratification, but that's only after you actually find the content you're looking for. You may know you want to watch "True Grit," but it's not easy to remember whether it's available on Netflix, Amazon Instant, or any of the other countless services available.

That's exactly the problem the newly announced Roku Search is designed to fix.

The feature upgrade will allow owners of Roku boxes to search for TV and movies available on Netflix, Amazon Instant, Vudu, Hulu Plus, Crackle, and HBO Go via one simple interface. The Roku Search channel will be rolling out to supported players (Roku LT, Roku HD and Roku 2 boxes) over the week and sits right next to the settings menu on Roku's home screen.… Read more

Netflix stock rises on Microsoft acquisition rumor

Netflix shares closed trading today up 13 percent, less than a week after the company disappointed Wall Street with a lackluster third-quarter performance.

Anyone looking earlier for news to explain what might be driving the spike would have been disappointed. But Forbes is now reporting that an unconfirmed rumor was behind the run. According to the magazine, word spread on Wall Street that Microsoft was trying to acquire Netflix. CNET also heard these rumors and saw an e-mail from a Wall Street banking firm that showed one rumor circulating indicated Microsoft was offering $90 per share for Netflix.

A Microsoft … Read more

Netflix CEO says he's 'tired of making excuses'

Reed Hastings doesn't appear to be trying very hard to hide his disappointment about Netflix's poor third-quarter performance.

During a conference call yesterday with analysts to discuss the company's earnings, the Netflix CEO sounded a little shaken and down. The company's critics would say rightfully so.

The Web video-rental service acknowledged yesterday that it failed to meet a quarterly goal for signing up new customers to its streaming service and will now miss its full-year target of 7 million new streaming customers. According to Netflix's revised subscriber numbers, Netflix will now finish the year with … Read more

Netflix misses subscriber target for third quarter

Netflix added fewer streaming subscribers in the third quarter than it needed to stay on track to reach full-year growth targets, but the company's financial performance was in line with analyst expectations.

Netflix, the online movie-rental service, reported a third-quarter net profit of $8 million, or 13 cents a share, on revenue of $905 million, the company said after the close of trading today. Revenue was up 10 percent from the $821 million the company reported in the same period a year earlier.

Netflix said that for the quarter ending September 30, the number of U.S. streaming subscribers … Read more

To satisfy Wall Street, Netflix's streaming service must grow

The Netflix skeptics on Wall Street have been out in force.

Plenty of analysts doubt that Netflix can reach its goal of adding 7 million new U.S. subscribers this year to its streaming-video service.

Netflix is due to report third-quarter earnings after the close of trading today and everybody will be watching the progress of that domestic-subscriber number. In July, Netflix said it expected to add 1 million to 1.8 million new streaming subscribers during the period. That would give the company a total of between 24.9 million and 25.7 million domestic subscribers.

But CEO Reed … Read more