Netflix, the online film rental juggernaut, is adhering to its name: Getting out of the theatrical business altogether, abandoning film production, and focusing solely on Internet and new media distribution platforms. With the move, the company has folded its nearly 3-year-old division Red Envelope Entertainment (REE), which purchased all-rights to indie films, and will be letting go its 5-person staff, which includes veteran exec, Liesl Copland, head of acquisitions and distribution.
Anthony Kaufman talks with Ted Sarandos and Liesl Copland about the company's move.
Read the full story at indieWIRE.com.
