Netflix reaches multi-year movie deal with Weinstein

Netflix says it will stream certain movies from The Weinstein Co., including "The Artist," under an exclusive licensing agreement.

The companies say their multi-year agreement will cover foreign-language movies, documentaries and some other films in the Weinstein vault and make them available for instant viewing on Netflix.

Netflix says it will get some films within a year of their release in movie theaters. It says it will show "The Artist," a silent movie that has received 10 Academy Award nominations, before it appears on premium cable TV networks.

The companies aren't disclosing financial terms.

Netflix shares rose $2.97, or 2.4 percent, to $124.82 in midday trading Tuesday.

Netflix is based in Los Gatos, Calif.