INSIDE WORD | Netflix Shutting Red Envelope Entertainment

On Tuesday evening, Netflix publicly confirmed the closure of Red Envelope Entertainment, the company’s film production and acquisition unit that has backed more than 100 independent, foreign language and documentary films. indieWIRE also learned that division head Liesl Copland, who joined the company nearly two years ago, is leaving Netflix. The move marks a major shift in strategy for the world’s leading movie rental service as it expands to deliver more movies and TV shows via instant streaming. indieWIRE will have more on this story later today (Wednesday). [Eugene Hernandez]