netflix

Carl Icahn considered hostile takeover for control of Netflix

Activist investor Carl Icahn said today he has considered launching a hostile takeover bid for Netflix, in which he recently acquired a 10 percent stake.

When queried on the approach to gain control of the Internet streaming and DVD rental service, Icahn told CNBC: "The thought had certainly entered my mind. I have to admit I think about it, but we haven't made that decision."

While saying a hostile takeover was "certainly an alternative," the billionaire and former corporate raider called Netflix's recent adoption of a "poison pill" plan to defend against … Read more

Netflix gobbles a third of peak Internet traffic in North America

Netflix users are turning into the biggest data hogs in North America, a new report suggests.

The report from Sandvine, a company that sells Internet traffic-management systems, finds that Netflix use accounts for 33 percent of all downstream traffic in North America during the peak hours between 9 p.m. and 12 a.m. By contrast, Amazon and Hulu only account for 1.8 percent and 1.4 percent of downstream traffic, respectively.

During peak time, 65 percent of all fixed-line data traffic across North America is delivered through audio- or video-streaming services, so Netflix accounts for a little over … Read more

Former rival's advice to Netflix: 'Don't let Icahn get to you'

What should CEO Reed Hastings do if billionaire investor Carl Icahn wins some control of Netflix? Stay cool and don't sweat it, says one of Hastings' former rivals -- John Antioco, former CEO of the former Blockbuster.

Icahn acquired nearly 10 percent of Netflix's shares last week. His entry into any company typically means headaches for managers and directors. Antioco knows a thing or two about dealing with Icahn.

Antioco led turnarounds at Circle K convenience stores and Taco Bell, and was on his way to building Blockbuster's digital unit into a significant Netflix competitor when Icahn'… Read more

With Icahn, Netflix management is in fight for existence

Netflix management faces perhaps the biggest threat to its existence in the form of Carl Icahn, the famed corporate raider.

Icahn acquired a little under 10 percent of Netflix's shares last week and made noise about how sees a way to profit from the potential sale of the Web's top video rental service -- a company that has struggled mightily in the past 15 months with a customer-alienating price increase and missed projections.

In a financial career that has spanned more than 30 years, Icahn has developed a reputation for being someone who can unlock value at troubled … Read more

Rumor has it: Amazon to launch original musical comedy series

Amazon may be taking a cue from Netflix and Hulu and setting its sights on creating an original content TV series. According to Variety, the Web giant is about to greenlight a new comedy series called "Browsers."

This comedy will apparently be a musical based on four interns working in a newsroom similar to the Huffington Post, Variety reports. The series was first made for CBS but was then shopped to Amazon via production company Netco. (Disclosure: CBS is the parent company of CNET News.)

If indeed Amazon is working on releasing "Browsers," it would be … Read more

Netflix preps poison pill to fend off Icahn

Netflix said last week it could work with Carl Icahn, but now its managers are girding for battle.

The Web video-rental service said today that it is preparing what is commonly referred to as a poison pill, in an effort to fend off attempts from outside companies from making a hostile bid to takeover Netflix. The statement below does not name investor Carl Icahn, but after the billionaire and former corporate raider acquired just under 10 percent of Netflix's shares last week, it's obvious he is the motivation for this action.

The Netflix board of directors approved the … Read more

Netflix readily accepts Icahn's business advice

After Carl Icahn snapped up a 10 percent stake in Netflix, which caused a 15 percent jump in the company's stock shares yesterday, the streaming-video company announced that it's ready to listen to Icahn's business advice.

"We have many shareholders, now including Mr. Icahn, and we're always open to their perspective on how to build on our success," a Netflix representative told CNET in an e-mailed statement.

Icahn's history as an investor is full of high-profile proxy fights and tussles with management. In recent years, he has fashioned himself as an investor activist. … Read more

With Icahn move, Netflix is now officially in play

Shares of Netflix jumped sharply after an SEC filing disclosed that financier and former corporate raider Carl Icahn has taken a nearly ten percent stake in the streaming-video and DVD rental company.

The filing notes that Icahn Capital LP, an investment firm controlled by Icahn, and associated entities bought 5.54 million shares of stock in the company, plus call options, for $168.9 million. In remarks filed with the announcement, the group suggests Netflix is undervalued.

The disclosure of Icahn's investment comes just days after rumors that Microsoft might also be sniffing around Netflix. Unconfirmed rumors on Friday … Read more

Roku cross-platform search supports Netflix, Amazon Instant, Hulu Plus, HBO GO, Vudu

Streaming video may be the epitome of instant gratification, but that's only after you actually find the content you're looking for. You may know you want to watch "True Grit," but it's not easy to remember whether it's available on Netflix, Amazon Instant, or any of the other countless services available.

That's exactly the problem the newly announced Roku Search is designed to fix.

The feature upgrade will allow owners of Roku boxes to search for TV and movies available on Netflix, Amazon Instant, Vudu, Hulu Plus, Crackle, and HBO Go via one simple interface. The Roku Search channel will be rolling out to supported players (Roku LT, Roku HD and Roku 2 boxes) over the week and sits right next to the settings menu on Roku's home screen.… Read more

Netflix stock rises on Microsoft acquisition rumor

Netflix shares closed trading today up 13 percent, less than a week after the company disappointed Wall Street with a lackluster third-quarter performance.

Anyone looking earlier for news to explain what might be driving the spike would have been disappointed. But Forbes is now reporting that an unconfirmed rumor was behind the run. According to the magazine, word spread on Wall Street that Microsoft was trying to acquire Netflix. CNET also heard these rumors and saw an e-mail from a Wall Street banking firm that showed one rumor circulating indicated Microsoft was offering $90 per share for Netflix.

A Microsoft … Read more