Saturday, September 17, 2011

Netflix to Separate DVD and Streaming Businesses

Netflix CEO Reed Hastings announced plans to separate the company's streaming and DVD operations into distinct businesses. The DVD by mail operation will be renamed "Qwikster" and the streaming operation will retain the "Netflix" name. Each operation will have its own website and customers will need to subscribe to each service independently. Pricing remains the same. Andy Rendich has been appointed CEO of Qwikster.