Qwikster: Netflix To Split DVD Service Into New Business
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In a post on The Netflix Blog that went up Sunday night, the company's CEO, Reed Hastings, announced that Netflix would split its DVD-by-mail service and its streaming-video service into two companies. The new DVD-only company, called "Qwikster," will be completely separate from the streaming business. Hastings also expressed contrition for the way the company rolled out its recent price hike, which alienated many customers.
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Additionally, the new Qwikster will have the standard Netflix Blu-Ray upgrade option as well as a new Video Game upgrade option. Prices will stay the same, the only difference is two companies instead of one.