Netflix (NFLX) Rises 3 Percent on New Content Deals

Netflix (NFLX) inked a couple of new content licensing deals driving up the share price of the stock over 3 percent.

The new deals are to stream video content from Paramount Pictures (NYSE:VIA-B) into Canada, and a second deal with Miramax to stream their video library.

Netflix chief content officer Ted Sarandos said, "We are committed to constantly expanding our selection of top new movies and TV shows for our Canadian members. This agreement will allow them to watch some of the latest hit Paramount films as well as an incredible range of the studio's recent and classic favorites anytime they want. Netflix and Paramount enjoy a great relationship and are proud to bring such a terrific array of films to Netflix members in Canada."

The deal with Paramount is for five years. The combined deals will add over 1,000 titles to the Netflix offerings.

Netflix closed Monday at $237.32, gaining $7.31, or 3.18 percent.

Disney (NYSE:DIS) Closes Miramax Deal with Filmyard

The Walt Disney Co. (NYSE:DIS) has reportedly completed the sale of Miramax to Filmyard Holdings LLC for $663 million.

Ron Tutor, who is CEO of Tutor-Saliba Corp., headed up the group of investors who now own Miramax. He confirmed the deal had been closed on Friday.

Other investors in Miramax include Qatar Holding LLC and Colony Capital LLC.

Hired to run Miramax is former business development executive at New Corp. (NYSE:NWS) Mike Lang, according to Tutor.

Included with Miramax, along with the brand, is over 700 film titles, and a number of books and development projects.

Barclays (NYSE:BCS) was the lead bank in financing the deal.