Netflix looks for more money

JOHANNESBURG - Netflix continues to burn cash at a record pace, and now plans to take on more.

The streaming giant announced plans to take on another $2-billion in new debt which could be used to fund more original content.

The funds will be raised in the form of senior unsecured notes. It's the sixth time in under four years that the company has done this.

Netflix reported almost $12-billion in total debt at the end of last month.

But Netflix shares fell almost 3 percent on Monday, but had erased most of the losses to close around 1 percent down.