Getting your player ready...
SAN FRANCISCO — Video subscription service Netflix hopes to raise at least $400 million as it tries to recover from a customer backlash that has battered its stock and tarnished its brand.
The plan appeared to rattle some investors worried about Netflix’s ability to recover from a crisis triggered by management’s decision to raise its U.S. prices by as much as 60 percent in September.
The company plans to issue $200 million in convertible notes to Technology Crossover Ventures, among its biggest stockholders. The offering is contingent on Netflix selling at least $200 million of its stock by Nov. 28.
