Patent Law
Video Rivals Settle Patent Dispute
Posted Jun 28, 2007, 02:39 pm CST
By Debra Cassens Weiss
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.
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