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Today in Indie Carnage: Netflix Executes Red Envelope Entertainment

STV · 07/23/08 11:20AM

The independent-film slaughterhouse revved back into action this morning with news that Red Envelope Entertainment, the acquisitions and financing division of Netflix, shut its doors after three years. The division helped underwrite and/or release titles including the Maggie Gyllenhaal drama Sherrybaby, the Oscar-nominated documentary No End in Sight and Julie Delpy's directorial debut Two Days in Paris; it's last film appears to be the psychosexual Ben Kingsley/Penelope Cruz drama Elegy, opening next month.