Netflix, the online and mail- order video-subscription service, has acquired streaming rights to previous seasons of TV shows from the CW Network owned by CBS Corp. and Time Warner Inc.'s Warner Bros.
The four-year agreement covers past seasons of scripted series that air on the CW from its current schedule through the 2014-2015 season, the companies said today in a statement. Financial terms weren't disclosed.
Most future content deals will be for TV shows as Netflix looks to expand its online catalog, the company said last month. The CW accord provides more than 700 hours of past seasons' programming, according to the statement. The shows include dramas such as "Gossip Girl" and "One Tree Hill."
CBS has adamantly refused to provide its own shows to Hulu in the U.S., where it wants big-money rights fees to distribute content online beyond its own sites, but has a deal in place with Netflix. CW shows such as "The Vampire Diaries," "Ringer" and "90210" are similarly excluded from Hulu.
Starz on Sept. 1 said it was ending talks to renew a streaming accord with Netflix. Starz supplies recent Walt Disney Co. and Sony Corp. movies to Netflix for online viewing under a contract that expires in February. Later last month Netflix struck a deal letting it offer movies from DreamWorks Animation SKG, the studio behind films including "Shrek" and "Madagascar," in a deal replacing a DreamWorks pact and starting with new releases in 2013.
Netflix shares rose 2.4% to $116.32 at 11:41 a.m. New York time. The shares had fallen 35% this year before today, following Netflix's price hike, apology for the way it introduced the price hike, move to split its DVD-by -mail service into a separate product called Qwikster, and decision to abandon the planned split.
-- Bloomberg News --