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Yet again, entrenched media moguls MGM and United Artists have had a really bad idea in the hopes of making money - by pulling all pre-1986 titles today to make them exclusive to their new Warner Archive Instant service. We already have Netflix, Hulu, and Amazon, and this new service is sure to cause no so much as a dent in any of their traffic numbers. Surely someone inside the companies thinks this is going to be the next big thing, but we're pretty sure they would have made more money by just renewing their contract with Netflix.

Read more about it at Slate:

Why 1,300 instead of the 1,794 reported? As a Netflix PR guy wrote to Mashable, they'll also be adding about 500 new movies on May 1st. So, goodbye MGM/UA, we'll see you in contract negotiations with your lion's tail between your legs next year...

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