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Netflix takes over Wal-Mart DVD rental business

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Well, it looks like Wal-Mart's master plan to bankrupt Netflix didn't quite turn out — the world's largest retailer is now essentially surrenduring to the much smaller internet startup and turning over their DVD rental business. The agreement specifies that Wal-Mart will offer its existing online rental customers the chance to continue their subscriptions under Netflix at their current price for the next year, and begin promoting the Netflix service in its website. In turn, Netflix will remind its customers that they can purchase DVDs from Walmart.com — awww, isn't that nice? Of course, Netflix still has Blockbuster to contend with, but it's a major victory to have at least knocked Wal-Mart out of the running.

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