Deals
Netflix Raises $400 Million to Boost Cash as Film Costs Rise
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Netflix Inc., the video-streaming and DVD subscription service, agreed to sell $400 million in stock and convertible notes to bolster cash as it increases spending for online rights to films and TV shows.
Technology Crossover Ventures will purchase $200 million in zero-coupon senior convertible notes due 2018, and T. Rowe Price Associates Inc. funds will buy $200 million in stock, Los Gatos, California-based Netflix said yesterday in a statement.