Verizon bidding on Netflix or Redbox

It seems lately many consumers are opting to stream videos to their TV lift cabinets instead of paying for the high priced cable plans.  It may be a sign of the times, with the economy in a current decline, but many see it as the way of the future.  Streaming videos allows consumers to watch what they are interested in watching on their own time schedule for a very affordable price.

This shift in consumer behavior has many communication giants wanting a piece of the pie.  One such communication company is Verizon.  Verizon Communications, the second-largest U.S. phone company, has recently announced in an investor conference, their plan to expand into the video market.  Verizon just this past week has been rumored to be discussing a bid to purchase Netflix Inc.

Netflix, a subscription-based company for video streaming and DVDs by mail, saw its shares rise 1.2 percent to $76.13 two days ago in New York trading. This was a direct result of the rumored talks that Verizon might buy