Starz quits talks to renew Netflix streaming deal

ENGLEWOOD, Colo. -- Starz says that it has ended renewal talks with Netflix on providing movies and other content for its on-demand streaming service.

The decision announced Thursday deals a big blow to Netflix's streaming service at a time when many users are angry about its recent decision to raise its monthly subscription prices. Netflix's stock sank 8% after the announcement was made.

When signed in October 2008, the deal was Netflix's first major content-streaming agreement. It was expected to be renewed but with Starz receiving more than it had previously.

Now, Netflix will be able to run Starz content only through February.

Starz Entertainment is a unit of Starz LLC, which is owned by Liberty Media Corp.