Icahn Takes Stake in Netflix

Activist investor Carl Icahn and affiliates reported a nearly 10 percent stake in Netflix Inc., noting the movie rental company’s shares are undervalued due to its dominant market position and international growth prospects.

In a regulatory filing, Mr. Icahn reported a 9.98 percent beneficial stake in the company, including shares underlying call options, and said Netflix “may hold significant strategic value for a variety of significantly larger companies that are engaging in more direct competition with one another due to the evolution of the internet, mobile, and traditional industry.”

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