Netflix plans to borrow to pay for more original content

01/30/2013 |

Netflix says it plans to refinance debt and offer up to $200 million in new notes to raise cash for the production of original content. Netflix executives made the announcement in a conference call with investors and in a shareholder note that mentioned the rising cost of licensing and producing digital content. "This would give us additional reserves as well as increased flexibility to fund future originals," CEO Reed Hastings wrote in the note.

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