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A look at Netflix since stock plunged from peak

AP/ SMH | May 28, 2013
Here's a look at Netflix since its stock peaked in July 2011 at nearly $305.

Feb. 6: Verizon Communications Inc. and Coinstar Inc. unveil plans to challenge Netflix with its own streaming service to bundle with DVD rental kiosks operated by Coinstar's Redbox division. Getting an extensive library of streaming content to rival Netflix's will be expensive, though. Netflix, meanwhile, debuts its first original TV series, an eight-episode drama called "Lilyhammer," as it hopes to differentiate itself from rivals.

Feb. 21: As part of an effort to offer more exclusive material, Netflix locks up the right to show "The Artist" and other movies from The Weinstein Co. before the films are released to leading pay-TV channels such as Showtime and HBO. On the same day the multiyear deal is announced, Comcast Corp. announces plans to undercut Netflix with a less expensive version of a service that will stream old TV series and movies to devices with high-speed Internet connections.

April 23: Netflix says it suffered its first quarterly loss in seven years as it dealt with rising licensing fees and the bill for an international expansion. The first-quarter setback, however, was far smaller than analysts expected. In another encouraging sign, the company's subscriber growth accelerated during the first three months of the year, further evidence that the company is recovering from the price-hike backlash.

July 3: Netflix announces that subscribers watched more than 1 billion hours of online video in June, an indication that streaming video is getting more popular.

July 12: One-year anniversary of price-hike announcement. Subscriber growth has returned, but even after a recent rally, Netflix stock remains more than 70 percent below its peak price of nearly $305 about a year ago.

Aug. 15: Netflix announces that its international expansion will continue with a rollout in four Nordic countries _ Norway, Denmark, Sweden and Finland. Service became available in mid-October.

Oct. 31: Activist investor Carl Icahn discloses he has used some of his $14 billion fortune to accumulate a 10 percent stake in Netflix.

Nov. 5: Netflix moves to protect itself against hostile takeovers by adopting a shareholder rights plan, also known as a poison pill. Such a plan is designed to make it difficult or even impossible for someone to take over the company without an agreement from the board. Netflix says the provision is triggered if a person or group acquires 10 percent of Netflix, or 20 percent in the case of institutional investors, in a deal not approved by the board.

Dec. 4: Netflix announces that its video subscription service has trumped pay-TV channels and grabbed the rights to show Disney movies shortly after they finish their runs in theaters. Netflix's streaming service will have exclusive U.S. rights to offer Disney's first-run movies during the period normally reserved for premium TV network such as HBO, Starz and Showtime. It will start after Disney's current deal with Starz ends in 2015.

 

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