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Paidcontent (Free subscription) | 07/22/2008
This falls into the Casablanca category as in the police captain being "shocked" to find gambling going on at Rick's ... Netflix ( NSDQ: NFLX ) is closing its nascent Red Envelope Entertainment unit because it competes with the studios it relies on for its main business. Red Envelope invested in more than 100 films and had about 50 employees, according to the LA Times . Related Netflix Tries Different...
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Slog (Free subscription) | 07/23/2008
Netflix is closing Red Envelope Entertainment , its film purchasing and distribution arm, because "...the Red Envelope Entertainment unit competed with its main suppliers, Hollywood studios ." This is a big bummer, actually. Two of the movies that Red Envelope produced, Sherrybaby (a movie about an irresponsible mom on parole starring Maggie Gyllenhaal and Danny Trejo) and Confessions of a Superhero...
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FLiXER: Entertainment Industry News (Free subscription) | 07/23/2008
Last night, I started getting emails regarding Netflix’s decision to shutter their Red Envelope Entertainment division, which invested in co-productions, partnered with larger distributors such as Magnolia and IFC to give their acquisitions a boost, and acquired indie films for theatrical distribution on their own. Over 100 films were released under Rev Envelope since it sprung up in 2005, including...
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Gear Live (Free subscription) | 07/24/2008
Apparently Netflix is closing down their Red Envelope Entertainment division. It had invested in more than 100 films including “John Waters: This Filthy World,” “Sherry Baby,” and “The Giant Buddhas” (which we just saw and highly recommend.) Over 75 employees will lose their jobs because of the change. One of the reasons we dig Netflix is because they feature Indy films, so maybe we can deluge the...
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SpoutBlog (Free subscription) | 07/23/2008
You got a streaming company in my film financing! And vice versa!
