Verizon Might Start Bidding War to Buy Netflix

Network provider reportedly prepared to take over video-streaming service.

By Raymond Wong
|  Tuesday, Dec 13, 2011  |  Updated 1:34 PM PDT
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Verizon Might Start Bidding War for Netflix

Will Verizon be able to repair Netflix's tattered image?

If you can't beat 'em, join throw tons of money in their face until they relent from drowning in all that cash.

Word on the street is that Verizon really wants to buy Netflix; instantly adding 23 million customers to its market share. A buyout would be one hell of an entrance into the video streaming biz for Verizon.

Bloomberg reports that Porter Bibb, managing partner at Mediatech Capital says people within Verizon are "very serious bout either Netflix or something similar."

With Netflix's big missteps this year — (remember the Qwikster fiasco?) — Netflix is falling harder than an asteroid dropping down to Earth.

Meanwhile, Verizon is looking to explode onto the scene in streaming video in ways other than through FiOS and Xbox Live.

Qwikster bruised Netflix real good. Its stock falling 57 percent this year is proof of that damage. I personally don't like the idea of Verizon taking my dollar through every channel (I already pay them for Internet and cable), but hey, that's just me.

Both companies have declined to comment on the rumors and speculation of Verizon buying Netflix. It's only a matter of time before the cat's out of the bag. Would you like a Verizon-owned Netflix?

Fox Business and Bloomberg, via DailyTech

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