NETFLIX TO SHUTTER INDIE INVESTMENT UNIT

Netflix is shutting down its Red Envelope Entertainment unit -- a two-year-old operation that invested in more than 100 independent films. The company said it was doing so because it competed against the studios that it relies on for its main movie-rental business. Netflix spokesman Steve Swasey said that the unit had been "very successful." Among the films that bear the Netflix logo are the recently released documentary Trumbo , the anti-war documentary No End in Sight , and the romantic comedy Two Days in Paris.

23/07/2008