In a move that could have a
big impact on indie film sales and distribution, online film
rental service Netflix is shuttering its film financing and
acquisition arm Red Envelope Entertainment.
Since it was founded two years ago, Red Envelope invested
in more than 100 films and partnered on key acquisitions for
small distributors. Some of its acquisitions include the war
documentary "No End in Sight" with Magnolia Pictures, and the
romantic comedy "Two Days in Paris" with Samuel Goldwyn
Pictures.
According to a Los Angeles Times report, Netflix said it
shuttered Red Envelope because the division competed withy
Netflix's Hollywood studio partners. Red Envelope employed
about 50 people.
Reuters/Hollywood Reporter
In Theaters 
