Netflix in talks with iQiyi to license shows

Netflix is in talks to distribute programs in China through iQiyi.com, the streaming-video provider controlled by Baidu, gaining access to a market that has long eluded the world’s largest pay-TV service, Bloomberg reports.  Netflix shares jumped to a record $151.72 on the news. Cooperation between the companies will adhere strictly to Chinese regulations on film and TV imports, iQiyi said in an emailed statement. Variety reported earlier that a Netflix executive, Robert Roy, announced at a conference in Indonesia that a deal with iQiyi was in place. The pact is a licensing deal with multiple shows, a Netflix spokeswoman said in an email. Netflix has been looking for a way to enter China as part of its plan to amass a global audience for its burgeoning library of exclusive shows, from “House of Cards” to “Stranger Things.” Netflix expanded to 130 countries last year and surpassed 100 million subscribers worldwide last weekend.