Netflix Offers Mea Culpa, Abandons DVD Rental Split

By Chuck Sudo in Arts & Entertainment on Oct 10, 2011 2:15PM

Finally, some good news from Netflix. CEO Reed Hastings announced in a blog post this morning the company is scrapping plans to split their streaming movie and DVD services and keep everything together under one brand name.

In short: Qwikster is DOA.

Hastings also addressed the July price increases that started Netflix's bad PR. Hastings said those price changes are now complete while touting the hundreds of movies and thousands of TV episodes Netflix has added to bring their subscribers greater variety for the value.