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Report: Verizon ‘Very Serious’ About Buying Netflix

Dec 13, 2011  •  Post A Comment

Verizon Communications is "very serious" about making an offer to purchase Netflix, according to a report from Bloomberg, citing an investment banker.

Porter Bibb, managing partner at Mediatech Capital, said he’s "hearing rumblings from inside Verizon that they are very serious about either Netflix or something similar," the story notes.

Verizon could end up purchasing Netflix for about $4.6 billion by Easter, the piece notes, citing Bibb.

Verizon, the second-largest U.S. phone company, wants to extend its FiOS television service into streaming video, CEO Lowell McAdam said earlier this month at a conference.

Representatives for Netflix and Verizon declined to comment, the piece adds.

 

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