Netflix Not Hiking Subscription Fee for Disney, GM Raises Car Prices in India: Consumer Business Recap
Ted Sarandos, the chief content executive at Netflix (NASDAQ:NFLX), says that his firm does not intend to pass along the cost of the rights to The Walt Disney Company’s (NYSE:DIS) movies to subscribers, in comments made at the UBS Global Media and Communications Conference on Wednesday. Analysts calculate that Netflix paid in excess of $350 million for the exclusive rights to stream Disney movies to television commencing in 2016, but is not considering a price hike to help pay for the deal. Sarandos told the filmmaker Harvey Weinstein in an interview that, “We are not contemplating increasing the $8-per-month subscription fee for unlimited online viewing.”
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The bankrupt Eastman Kodak Co. (EKDKQ.PK) finally gets a break as a consortium of bidders has offered it more than $500 million for a large collection of digital patents, say inside sources. A concrete deal has not yet been set, but the offer represents a solid chance that the historic company might soon emerge from bankruptcy. In November, Eastman made an agreement with creditors for $830 million in loans which depends upon the firm divesting the patents for a minimum of $500 million
General Motors Company’s (NYSE:GM) division in India announced on Thursday it will hike the price of cars it sells there by 1 to 3 percent beginning in January because of high input costs and fluctuations in currency. The market leaders Hyundai Motor Company’s (HYMLF.PK) unit along with that of Maruti Suzuki raised prices in October, also due to rising costs.
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