Netflix are gearing up for their UK launch in 2012 by sealing a streaming deal with movie studio MGM, for the rights to show online movies. The deal will give Netflix an exclusive subscription streaming service for the UK and Ireland for first-run movies from MGM, that will get shown within a year of their cinematic release.

And for those that claim Netflix only stream old movies, Netflix have said that the prequel movies to the Oscar winning Lord of the Rings trilogy will be streamed within a year of their cinema release in the multi-year licensing deal.

Speaking about the deal, Netflix chief content officer Ted Sarandos said, “We are delighted to be entering the UK and Ireland with a legendary studio like MGM at our side. And we are excited to be extending our relationship with MGM from the US to these important markets and proud to be the exclusive home for their films in the traditional pay TV window.”

Netflix is a subscription service that lets viewers access online movies and TV shows on televisions sets, tablet pc’s, game consoles, computers and smartphones for a monthly fee of $7.99. They also claim to have 25 million subscribers in the US, Canada and Latin America.

Speaking for MGM, Roma Khanna said, “Developing this relationship further will help us bring our films, both old and new, into the homes of our loyal audiences with the great ease Netflix offers customers.”

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