Netflix and Miramax have planned to undergo a five-year deal worth more than $100 million. A previous report reveals that the deal was earlier valued at about $50 million over five years, but then changed to $100 million over five years.

Miramax is a film studio which has produced many famous independent movies of recent decades including Shakespeare in Love, Good Will Hunting, Pulp Fiction, Kill Bill, No Country for Old Men and Bridget Jones's Diary. It also includes the series of Scary Movie and Scream. Miramax was founded in 1979 by brothers Harvey and Bob Weinstein.

The deal is expected to contribute to the library of Netflix Inc. the deal would be a big achievement for the investor group, Filmyard Holdings LLC which had bought Miramax from Walt Disney Co. last year for $660 million. The investment group is seeking for attractive distribution deals in new and old media alike. Miramax is also discussing similar deal with Amazon. com Inc. and Facebook Inc.

The spokesman for Netflix and the spokeswoman for Miramax have declined to comment on the deal.