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MarketWatch First Take: Disney and Netflix was always a short-term relationship

News that Walt Disney Co. will end its deal that provided Disney content for Netflix Inc.’s streaming service should not be a surprise.

Tuesday afternoon was full of hullabaloo and knee-jerk reactions among worried Netflix subscribers (and investors) over the news that Disney DIS, +0.59%is starting its own direct-to-consumers streaming service. After launching an ESPN streaming service next year, a new Disney-branded direct-to-consumer streaming service will launch in 2019 with much of the content that is scheduled to leave Netflix.

Don’t miss: What the Disney Netflix split means for viewers

Netflix NFLX, -1.64% shares fell 3% in after-hours trading on fears that Netflix will not offer as valuable of a service without Disney content, which seems odd considering Disney content only began appearing on the service late last year and will remain on the service through 2019.

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