By Lisa Beilfuss
Netflix Inc. added two directors to its board Monday, bringing
the total number of directors to nine.
The Los Gatos, Calif.-based company said it appointed Anne
Sweeney, the former co-chair of Disney media networks and president
of Disney-ABC television, and Brad Smith, general counsel of legal
and corporate affairs at Microsoft Corp.
"We look forward to benefiting from Brad and Anne's perspective
as we continue to build our global Internet TV network," Netflix
co-founder and Chief Executive Reed Hastings said in a
statement.
Ms. Sweeney brings about three decades of television experience
to Netflix's board. Prior to the 18 years she spent at Disney, she
held senior roles at the FX Networks, a division of the Fox
Entertainment Group of 21st Century Fox, and at Viacom Inc.
Mr. Smith joined Microsoft in 1993 and has served as the
company's general counsel since 2002.
The appointments come as Netflix ramps up international
expansion plans and faces increased competition in the
streaming-video market.
Networks like HBO, CBS Corp. and Dish Networks Corp. have all
recently announced plans to offer streaming services, while Apple
Inc. aims to offer slimmed-down bundles this year, placing more
pressure on Netflix to produce distinctive content that can't be
found elsewhere. Earlier this year, Netflix said it plans to expand
to 200 countries by 2017, up from its current 50, while staying
profitable.
Shares in the company, down about 1% over the past 12 months,
gained 1.7% in midday trading amid a broad market rally.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
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