Netflix Abandons Breakup Plans
Netflix has backed off of plans to split its DVD-by-mail and streaming sides into separate businesses, and will not launch a new company called Qwikster, the company announced early Monday.
Plans for the switch had been announced in mid-September.
"Consumers value the simplicity Netflix has always offered and we respect that," Netflix co-founder and CEO Reed Hastings said in a statement. "There is a difference between moving quickly -- which Netflix has done very well for years -- and moving too fast, which is what we did in this case."