(Reuters) - Online video rental company Netflix Inc said it won pay TV rights to Dreamworks Animation movies starting in 2013, the first time a major Hollywood studio has chosen an Internet streaming player over a traditional cable channel.
News of the deal drove Netflix's stock up nearly 7 percent to a high of $137.88 in early trade on Nasdaq on Monday.
Netflix did not disclose the financial terms of the deal.
However, Dreamworks CEO Jeffrey Katzenberg told The New York Times that the deal, worth $30 million per picture to Dreamworks over a number of years, was "game-changing" and represented a bet that viewers would soon no longer make distinctions between content streamed on the Internet or through cable.
via news.yahoo.com
