December 3, 2010 (FinancialWire) (http://www.financialwire.net/) — Netflix, Inc. (NASDAQ: NFLX) and FilmDistrict, an acquisition, distribution, production, and financing company, said they have inked a multi-year agreement through which first-run, theatrically-released films distributed by FilmDistrict will be licensed to Netflix for streaming over the Internet in the "pay TV window" a few months after their release on DVD.

According to Netflix, under the deal, motion pictures that traditionally would have been licensed to premium cable channels will flow instead from FilmDistrict to Netflix for streaming to its members, beginning in 2011.

FilmDistrict was created earlier this year by producer Graham King and his business partners Tim Headington and Peter Schlessel, who became FilmDistrict's CEO.

California-based Netflix is an internet subscription service for renting movies and TV shows, either streamed or via discs sent in the mail. The firm has more than 16 million members in the United States and Canada.

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