1. Entertainment

    Is Netflix the 'Antichrist'?

    On the same day Netflix announced a deal to stream television episodes from ABC, TV executives gathered in New York to bemoan the advantages of their entertainment competition. "I know certain CEOs think of Netflix as the antichrist, and others embrace it as the second coming," said Les Moonves, the CEO of CBS. Shares of Netflix stock have tripled this year as more and more viewers are paying for its service to stream TV and movies across the Web. But Time Warner boss Jeff Bewkes said that the fees the company is paying aren't high enough to afford premium content from providers. At the moment, Bewkes said, Netflix is paying $50,000 to $100,000 to purchase rights to stream current television shows, while traditional channels shell out "millions of dollars" per episode.

    Read it at Financial Times