Deals
Icahn Puts Netflix on Block With Bet Rivals Buy Not Build
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Billionaire Carl Icahn took a 10 percent stake in Netflix Inc., putting the world’s largest video-streaming service in play and signaling a potential end to its days as an independent company.
The 76-year-old investor disclosed a $168.9 million bet on Netflix yesterday, buying stock and options representing 5.54 million shares. The Los Gatos, California-based company posted its biggest gain since January after Icahn said deep-pocketed competitors such as Amazon.com Inc. and Verizon Communications Inc. were potential suitors.