Netflix, Miramax Nearing $100 Million Streaming Deal (Report)
Movie rental company Netflix is reportedly nearing a deal with Miramax that would grant it access to over 700 titles in the independent film studio's library, including Pulp Fiction, The English Patient, Good Will Hunting and Chicago.
A source familiar with the situation estimates that the deal will be worth upwards of $100 million over five years, according to Reuters.
The Netflix discussions follow a series of recent deals for Miramax, which was purchased last year by Filmyard Holdings for $660 million. Other newly inked contracts include a partnership with Harvey and Bob Weinstein and a DVD distribution deal with Echo Bridge.
Miramax CEO Mike Lang is also reportedly interested in striking up a digital agreement with Google.
Launched in 1997, Netflix began as a subscription service that provided video rental by mail and expanded to include on-demand online video streaming. It currently has over 20 million subscribers.