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Netflix, LG in HDTV venture

The home movie service to offer instantly streamed movies on new set.

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By Larissa Padden, CNNMoney.com contributor

NEW YORK (CNNMoney.com) -- LG Electronics said Monday it will market a high-definition television set that will instantly stream movies from the video rental service Netflix.

The two companies said the new set will stream HD movies and television shows directly from Netflix without an external device.

The new model will be on display this week at the Consumer Electronics Show in Las Vegas.

LG (LGEIY) said the new HDTVs will rely on broadband connections and allow members to build their selections through the Netflix (NFLX) Web site.

Shares of Netflix rose 2% in early Monday trading.

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