Netflix is once again a Wall Street darling after reporting strong earnings and solid international subscriber growth. But could that make the red hot company a takeover target in the rapidly changing media world? Shares of Netflix (NFLX, Tech30) surged nearly 20% since its earnings release and they are now up about 12% this year as a result. The rebound is vindication for CEO Reed Hastings, who faced criticism earlier this year about how much the company was spending on all of its original content. The new programming wasn't boosting earnings, revenue and subscribers as much as Wall Street wanted.

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