Netflix Buys Rights to Disney Movies

To infinity and beyond, right, Netflix? The video-on-demand service struck a deal Tuesday to buy exclusive rights to Disney movies—putting them in direct competition with mainstream TV channels such as HBO and Showtime. The deal is an especially crushing blow to Starz, which currently has the rights to broadcast Disney movies, including Pixar animated films and Marvel superhero flicks, as soon as eight months after they are released in theaters. Disney also agreed to give Netflix the rights to their older animated movies, including Dumbo and Alice in Wonderland. “It’s a bold leap forward for Internet television,” said Netflix chief content officer, Ted Sarandos. Netflix shares soared on Tuesday after the announcement.