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Walmart & Netflix teamed up against Blockbuster, now Walmart will pay up to $40 million to settle

Sections: Video, Video Providers

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Back in 2005 it is said that Walmart and Netflix teamed up to fight agains then rival Blockbuster. According to the details, Walmart agreed to stop renting DVD’s and Netflix agreed to never sell DVD’s. But regardless, it turns out that may have been a violation of antitrust laws and Walmart is preparing to write a check of anywhere from $29 up to $40 million dollars to settle. And at present, it looks like Netflix is still going to fight the good fight and according to a Netflix spokesperson, they believe that the “lawsuit lacks merit and we will defend it.” In the meantime, it looks like Walmart will begin handing out either “cash or a Walmart.com gift card to every class member who asks for one.”

Read [PaidContent] Via [Gizmodo]

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