October 8, 2019 / 2:04 PM / 2 months ago

Netflix CEO says plans to open offices, pay tax in Italy

FILE PHOTO: Reed Hastings, co-founder and CEO of Netflix, gestures during an event of the Fundacion Telmex Mexico Siglo XXI (Telmex Foundation Mexico XXI Century) in Mexico City, Mexico, September 6, 2019. REUTERS/Edgard Garrido

ROME (Reuters) - Netflix Inc (NFLX.O) plans to open offices and start paying tax in Italy, Reed Hastings, chief executive of the U.S. video streaming service said on Tuesday after launching a production partnership agreement with Mediaset (MS.MI).

He said Netflix, which has just over 2 million subscribers in Italy, would invest some 200 million euros over the coming two years in Italian films but had no plans to open production studios in the near term.

Reporting by Elvira Pollina

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