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If you're anything like me, then you're really tall and you find your Netflix membership invaluable. Not only have I been able to catch up on all those "you've gotta see (blank)" titles that my friends have (sometimes baselessly) recommended, but Netflix has also helped me expand my cinematic horizons by giving me access to somewhat obscure indie films and powerful documentaries that cannot commonly be found in the local megaplex or video store. But, in a move The Hollywood Reporter claims "could have a big impact on indie film sales and distribution," Netflix is closing Red Envelope Entertainment - the indie film financing and acquisition arm that has invested in over 100 films in the last two years.

Since business speak is all gobbledygook to me, let me just quote the article from The Hollywood Reporter. They could probably say it better than I: "Since it was founded two years ago, REE invested in more than 100 films and partnered on key acquisitions for small distributors. Until this January, the division typically put up half of a film's total acquisition and theatrical release costs in return for Netflix disc and digital streaming rights and half the total profits. These partnerships allowed indie studios to take risks on smaller projects and fueled many buys during and after film festivals.

In January, REE changed its general approach to pay a flat fee for DVD rights and nonexclusive Netflix online rental streaming, done day-and-date with the retail DVD release, typically taking less risk for less money. REE's closure means smaller distributors have lost a key partner which allowed them to purchase and give a theatrical release to riskier low-budget films.

Some of the acquisitions REE partnered on include the war docu "No End in Sight" with Magnolia Pictures and the romantic comedy "Two Days in Paris" with Samuel Goldwyn Pictures.

According to a Los Angeles Times report, the company said the reason for its shuttering was that the buys put it in competition with its Hollywood studio partners. REE employed approximately 50 people."