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Rumors Swirl Of Amazon Buying Out Netflix

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Jul 14, 2009 9:39 am US/Pacific

Rumors Swirl Of Amazon Buying Out Netflix

 Netflix: Latest Quote & News
 Amazon: Latest Quote & News

LOS GATOS (CBS 5 / KCBS) ― There are fresh rumors on Wall Street that Silicon Valley-based Netflix could be bought by Amazon.com.

Both companies are considered leaders in the business of online distribution of digital movies.

In 12 years, Netflix has managed to transform the movie rental business, offering DVDs to customers through the mail with another very popular feature: no late fees.

The Los Gatos-based Netflix recently began offering online streaming of some movies, which is why Amazon may be interested in buying the company.

"I think from Amazon's perspective it is a good move because it consolidates their role as the absolute leader when it comes to selling video streams," suggested technology analyst Larry Magid. "I think it makes it an even more powerful company."

Neither company is commenting on the Wall Street rumors.

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