Netflix Takes Over Wal-Mart DVD Rentals By MICHAEL LIEDTKE, AP Business Writer 37 minutes ago SAN FRANCISCO - Wal-Mart Stores Inc. is turning over its online DVD rental business to Netflix Inc., signaling that the world's largest retailer couldn't beat the Internet upstart at its own game. ADVERTISEMENT Shares of Netflix surged after the agreement was announced, rising $4.38, or 28 percent, to $19.88 in pre-market trading. Under the agreement announced Thursday, Wal-Mart will offer its existing online DVD rental customers the chance to continue their subscriptions with Los Gatos-based Netflix at their current price for the next year. Wal-Mart also will begin promoting the Netflix service on its Web site. In return, Netflix's Web site will remind its subscribers that they can buy DVDs from Walmart.com. The companies didn't disclose how many customers Netflix will inherit nor the financial terms of their partnership.