Wal-Mart teams with Netflix on DVD deal - Yahoo! News

Wal-Mart teams with Netflix on DVD deal - Yahoo! News

Wal-Mart Stores Inc (NYSE:WMT - news), the world's largest retailer, on Thursday said it was closing its online DVD rental business and would direct customers to Netflix Inc. (Nasdaq:NFLX - news), the company that pioneered online rentals.
Shares of Netflix jumped 19 percent in early trade, reaching their highest level since October when the company cut prices to compete with an online service launched by rival Blockbuster Inc.
Under the agreement, Netflix will promote Wal-Mart DVD sales to its 3 million subscribers, and Wal-Mart will offer its online customers the opportunity to sign up with Netflix at their current subscription price for a year.

Whoa! Didn't see that one coming.