Meet Netflix’s First Ever Acquisition
Netflix is considered one of the premier online streaming services with an incredible array of content, but the firm is further adding to its library with its newest and first acquisition.
Netflix Inc. (NASDAQ: NFLX) is considered one of the premier online streaming services, with an incredible array of content, but the company is further adding to its library with its newest and first acquisition. In an unprecedented move, the firm made its first ever acquisition buying Millarworld, a comic book company.
While the name Millarworld might not resonate with most, the title has put out iconic characters and stories such as Kick-Ass, Kingsman and Old Man Logan. Some consider this firm to be one of the most important voices in comics.
The acquisition is a natural progression in the company’s effort to work directly with prolific and skilled creators and to acquire intellectual property and ownership of stories featuring compelling characters and timeless, interwoven fictional worlds. Terms of the transaction were not disclosed.
As we noted before, in Netflix’s enduring mission to be one of the best producers of online streaming content, acquiring a comic book company is a solid step. In a sense, Netflix is using this as a jumping point into the comic book arena, where the likes of DC and Marvel have made billions capitalizing on their superheroes.
[nativounit]
Ted Sarandos, Netflix chief content officer, commented:
As creator and re-inventor of some of the most memorable stories and characters in recent history, ranging from Marvel’s The Avengers to Millarworld’s Kick-Ass, Kingsman, Wanted and Reborn franchises, Mark is as close as you can get to a modern day Stan Lee. We can’t wait to harness the creative power of Millarworld to Netflix and start a new era in global storytelling.
Shares of Netflix were last seen up about 0.7% at $181.52, with a consensus analyst price target of $185.08 and a 52-week range of $92.95 to $191.50.
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
