News Summary: Netflix cuts TV deal with DreamWorks

News Summary: Netflix to run 300 hours of original TV series from DreamWorks Animation

Associated Press

SHREK TV?: Netflix says it is ordering 300 hours of new TV shows from DreamWorks Animation over multiple years starting in 2014, calling the deal its biggest yet for original first-run content.

SHIFTING SPEND: Netflix says it'll limit spending on original shows to about 10 percent of its annual $2 billion content budget, but originals are becoming more important. Recently it let deals lapse with Viacom and Starz for movies and shows that were not new or exclusive.

FIVE STARS: Investors hailed the deal as a win-win. Netflix shares rose $15.24, or 7.1 percent, to close at $229.23 on Monday, while DreamWorks shares rose 93 cents, or 4 percent, to close at $23.74.

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