Netflix Just Showed Why the Disney Divorce Doesn't Matter
Netflix Inc (NASDAQ: NFLX) shares sold off last week after Walt Disney Co (NYSE: DIS) said it would launch its own streaming service in 2019 and pull its movies from Netflix.
Disney, which owns Pixar, LucasFilm, and Marvel in addition to its own studios remains the most valuable entertainment company -- particularly when it comes to kids' programming -- but Netflix has wasted little time brushing itself off since the divorce.
In fact, the streamer's content blitz seems to be only heating up. Netflix made its first-ever acquisition last Monday, acquiring MillarWorld, a comic-book-publishing house that includes Kick-Ass, which will help make up for the upcoming lack of Marvel movies. Netflix will still continue to stream Marvel TV shows, though. The following day, Netflix signed longtime late-night host David Letterman to a new series composed of six hour-long episodes, which will include one long-form interview and field pieces.
Source: Fool.com
Walt Disney Co. Stock
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