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Tuesday
Dec042012

Netflix and Disney Reach Movie Deal

PRNewsFoto/Netflix(NEW YORK) -- Score one for Netflix. The video service has beat out pay TV channels for the rights to show Disney movies shortly after they finish running in theaters.

Netflix has been trying to add more recent movies to its streaming service.

Netflix stock jumped up Tuesday after the announcement.

Disney is the parent company of ABC News.

Copyright 2012 ABC News Radio