Netflix's Internet video service has landed the U.S. subscription rights to begin showing Disney movies shortly after they end their theatrical runs. The multiyear agreement announced Tuesday applies to films released in theaters beginning in 2016.
The Disney deal represents a major breakthrough for Netflix's service that streams video over high-speed Internet connections. Owners of major studios, including The Walt Disney Co., have previously sold the rights to first-run movies to pay-TV networks, such as HBO, Starz and Showtime.
Netflix's stock surged 14 percent to close at its highest price since April.
-- Associated Press