Shares of Netflix stock rose five percent yesterday on indications that Amazon may be looking to acquire the popular movie rental service, according to the Memphis Business Journal.
The paper reported Netflix shares (NASDAQ: NFLX) closed at $42.19 on Monday, up 5.29 percent after trading as high as $42.40 earlier in the day.
Netflix stock has more than doubled since hitting a 52-week low of $17.90 on Oct. 27.
Seattle-based Amazon (NASDAQ: AMZN) offers its own video-on-demand service, which competes directly with Netflix’s online video streaming service.
Neither company would comment on the rumor.
On Slice of SciFi #219 we reported on how Netflix was looking to address the future of the video rental industry when their core business model of delivering DVDs through the mail begins to wane. Netflix was exploring ways to deliver more on-line content but one thing holding them back was licensing agreements with Hollywood studios. If this merger goes through, consumers could benefit from a greater selection of movies offered between Netflix and the Amazon Unbox service.
I hope this doesnt go through. I love Netflix and hate Amazon.
I have never had any problems with Netflix, and have had nothing but problems from Amazon.
I have ordered 3 or 4 books from Amazon and every time, there was a problem with the order, like arriving late, being overcharged for shipping. One time, they even sent the wrong book. And I dont mean Volume 2 instead of Volume 3. I mean I ordered a book by Anne McCaffrey and got a book by Issac Asimov.
I love Amazon. Their customer service cannot be beat, in over 10 years I never had a wrong order, damaged by the carrier yes, but not their fault. Any defective discs are replaced without question and I have enven gotten my money back a year later for a defective Dust Buster. I pay only $75 a year for unlimited 2nd day air shipping. I can get next day air for only $3.99 an item and I used this to get a Full Size Weber Grill sent to me overnight UPS red for only $3.99!!!!! You cannot beat it. I must get at least 4 or 5 shipments a month from them. Netflix shold only get better after Amazon takes over.
Noooooo….!!!! I love my Netflix the way it is. Whyyyyyy…???
Change is bad.
So does this mean they’ll accidentally block all GLBT movies like they did with the books during the other big Amazon Fail of ’09?