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Comcast Launches Own 'Netflix-Killer'

Tickers in this article: CMCSA VZ NFLX CSTR

NEW YORK (TheStreet) - Just a few weeks after Verizon(VZ) and Coinstar(CSTR) teamed up for a video-on-demand service, Comcast(CMCSA) is doing the same thing.

Comcast announced its new service, known as Streampix, as it tries to take on Netflix(NFLX) in the VOD space. The major difference is that in order to get Streampix, you need to already subscribe to cable.

Streampix will be free to those who get Comcast's triple-play package, or $4.99 per month if you do not have triple-play package.

At the launch, Streampix will include content from NBCUniversal (owned by Comcast), Walt Disney(DIS) , Warner Bros., a division of Time Warner(TWX) , and Sony Pictures, a division of Sony(SNE) .

Shares of Comcast are off 0.31% to $29.08, while shares of Netflix are plunging lower, down 2.59% to $118.7. Shares had been as high as $126.15 prior to the announcement.

Interested in more on Comcast? See TheStreet Ratings' report card for this stock.

Check out our new tech blog, Tech Trends.

--Written by Chris Ciaccia in New York

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