Netflix Separates DVD and Streaming Services

Netflix Inc.'s move to separate its movie-streaming business and its DVD-by-mail service failed to soothe many customers' anger over the company's recent price hike.

Netflix Chief Executive Reed Hastings announced the split in a blog post Sunday night, saying the move was the undisclosed impetus for a recent price increase that outraged customers and sent the company's stock price plummeting. He apologized for not having given the explanation sooner.

"I messed up," Mr. Hastings wrote in opening his lengthy, apologetic blog post posted late Sunday night on Netflix's website. "I owe everyone an explanation."



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- Posted: 2011-09-19 11:48:22

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