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Netflix Spins Off By-Mail Business Into 'Qwikster'
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Netflix Spins Off By-Mail Business Into 'Qwikster'
Netflix is spinning off its DVDs-by-Mail business into a wholly-owned subsidiary called Qwikster. In a blog post last night, CEO Reed Hastings said the move was the impetus for the recent price increase that outraged customers and sent the company's stock plummeting. Hastings apologized for not having given the explanation sooner, saying ''I messed up.''
9/19/11 1:54pm ET - The Wall Street Journal
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