Netflix saw its share price crater more than 4% earlier this week after 21st Century Fox announced that it would pull even more shows away from subscription streaming services and show them on its ad-free FX+ channel.
Fox said that it now has 31 of its original FX productions available on FX+, which is available through Comcast and now Cox Communications, as well.
As Recode noted, FX+ doesn’t have everything—yet. For example, the 2016 hit “The People vs. O.J. Simpson” is still available on Netflix, while the first four seasons of “The Americans” are available on the Amazon Prime SVOD service.
But the FX+ announcement is seen by media watchers as Fox’s attempt to make good on promises to its own investors to, longer term, keep Fox properties on Fox-owned distribution platforms. These not only include FX+, but also Hulu, for which Fox is a joint owner with Disney, Comcast and Time Warner Inc.
Fox didn’t necessarily say it would stop selling shows to Netflix, but investors seemed to read the implication through the tea leaves.
Adding to the anxiety caused by the Fox announcement was Disney’s more direct threat last month that it would stop selling content to Netflix and take it direct to consumer.