Recently, I wrote 4C: Yahoo’s Turnaround Formula, in which I suggested that Yahoo organizes itself by segments, and puts the 3C (Content, Community, Commerce), in Context (4th C), and layers on Personalization (P) and Vertical Search (VS) on top it.
Here is a very good analysis from Read/Write Web on Flixster, where the Context = Movies. It already has the Community aspect, as well as some good Content. Not Commerce, yet. Not Personalization, yet. But they have Vertical Search.
I see this as a very good acquisition for Netflix, since the latter has both Commerce and Personalization, as well as Vertical Search.
Alternately, Netflix could simply copy their features, and Blockbuster could acquire Flixster.
Either way, it seems to me that the movie-lovers segment is relatively close to achieving the holy grail = (4C + P + VS).