Netflix shareholders haven't been thrilled with Netflix's direction the past few months. After announcing a spin-off of its DVD-by-mail rental business and higher prices for streaming and DVD services combined, subscribers raged until Netflix reversed course on severing its DVD arm, but the company didn't relent on recent price hikes. It's been paying a price in subscriber losses ever since. Enter unhappy investors, though talk of Verizon taking over the streaming service has them smiling once again.
Shares of Netflix stock jumped by as much as 6 percent today after a report surfaced from DealReporter suggesting Verizon is thinking about buying the streaming and DVD rental service, CNet says.
We already know Verizon is interested in streaming media, and in addition to launching its own service, the wireless communications company also looked at buying Hulu, CNet reports. Verizon appears motivated in becoming a player in the streaming sector one way or another, but what isn't known is how motivated Netflix would be to sell, even after all that's happened recently.