Breaking: Netflix Splits DVD And Streaming Businesses; Creates Qwikster For DVDs

Netflix CEO Reed Hastings just dropped a bombshell. In the wake of a rapid decline in Netflix's stock price last week, Hastings is taking a bold step by separating the DVD and video streaming services. The DVD-by-mail service will now be called Qwikster, and the streaming service will maintain the Netflix brand. That's right: the new business (streaming) will keep the existing name. Customers can still subscribe to both, but the two sites will not be integrated anymore.

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