Digest: Netflix credit; Sogecable OKMarch 26, 2008, ET
Netflix credit
Netflix said Wednesday that it will provide a 5% credit on the monthly bills of customers whose shipments were delayed by an outage Monday at its Internet site. A Netflix spokesman declined to disclose the number of customers affected, only that "it was not a majority" of the company's 7.5 million members. He said the credit will not have a material impact on the company's financial operations. The 11-hour outage resulted in a one-day delay for people expecting to receive DVDs on Tuesday. Netflix shares rose 2% on Wednesday to $37.86 but those gains, and more, were erased in after-hours trading. Sogecable OK Spanish regulator CNMV said Wednesday that it has authorized media group Prisa's takeover of its cable TV affiliate Sogecable. The 28-euros-per-share deal values Sogecable at 3.9 billion euros ($6.1 billion). Prisa expects to complete the deal in May. Digest: Netflix credit; Sogecable OKMarch 26, 2008, ET
Netflix credit
Netflix said Wednesday that it will provide a 5% credit on the monthly bills of customers whose shipments were delayed by an outage Monday at its Internet site. A Netflix spokesman declined to disclose the number of customers affected, only that "it was not a majority" of the company's 7.5 million members. He said the credit will not have a material impact on the company's financial operations. The 11-hour outage resulted in a one-day delay for people expecting to receive DVDs on Tuesday. Netflix shares rose 2% on Wednesday to $37.86 but those gains, and more, were erased in after-hours trading. Sogecable OK Spanish regulator CNMV said Wednesday that it has authorized media group Prisa's takeover of its cable TV affiliate Sogecable. The 28-euros-per-share deal values Sogecable at 3.9 billion euros ($6.1 billion). Prisa expects to complete the deal in May.
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