Updated from 5:34 p.m. ET to include Finisar, other companies, latest pricesNEW YORK ( TheStreet) -- Netflix ( NFLX) shares tumbled late Thursday after Starz announced it's ended contract renewal discussions with the high-flying DVD rental and content streaming company. The stock was last quoted at $213.03, down 8.7%, on volume of around 520,000, according to Nasdaq.com. "Starz Entertainment has ended contract renewal negotiations with Netflix," said Chris Albrecht, the company's president and CEO, in a statement. "When the agreement expires on February 28, 2012, Starz will cease to distribute its content on the Netflix streaming platform."
Albrecht continued: "This decision is a result of our strategy to protect the premium nature of our brand by preserving the appropriate pricing and packaging of our exclusive and highly valuable content. With our current studio rights and growing original programming presence, the network is in an excellent position to evaluate new opportunities and expand its overall business." Netflix, which recently embarked on a controversial change in its pricing structure, has yet to issue its own statement on the news. Based on Thursday's regular session close at $233.27, Netflix shares were up more than 30% so far in 2011, although they've dropped significantly since hitting a 52-week high of $304.79 on July 13.