Actually the post says it will run for a period of time shorter than half of the length of the first contest which could have run for 5 years (10/2006 - 10/2011

Actually the post says it will run for a period of time shorter than half of the length of the first contest which could have run for 5 years (10/2006 - 10/2011). From the post... And, like so many great movies, there will be a sequel. The advances spurred by the Netflix Prize have so impressed us that we’re planning Netflix Prize 2, a new big money contest with some new twists. Here’s one: three years was a long time to compete in Prize 1, so the next contest will be a shorter time limited race, with grand prizes for the best results at 6 and 18 months. While the first contest has been remarkable, we think Netflix Prize 2 will be more challenging, more fun, and even more useful to the field. Stay tuned for more details when we announce the winners of Prize 1 in September.