Video Rivals Settle Patent Dispute

Netflix has settled a suit that alleged Blockbuster stole its business method to charge subscribers a monthly fee to rent videos online.

Blockbuster revealed the settlement in a filing with the Securities and Exchange Commission, the Wall Street Journal (sub. req.) reports. Details of the agreement were not disclosed.

A spokeswoman said Blockbuster would not change its business model as a result of the settlement, Reuters reports.

Netflix filed the lawsuit last year. Blockbuster responded with a countersuit alleging fraud and antitrust violations.