Netflix Down on Report of Verizon Video Streaming Plans

Shares of Netflix are down are down $1.58, or 2 percent, at $68.54, and traded as low as $66.81, in an otherwise rising market, perhaps in part because Verizon Communications is planning to offer its own streaming video service on the Internet, according to a report by Reuters’s Yinka Adegoke and Sinead Carew this afternoon, citing multiple anonymous sources.

The service will have limited programming, will operate outside of where Verizon offers its FIOS video service, and is being put together in conjunction with television operators, the authors report.

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