Netflix Inc. plans to separate its mail-order DVD business from movie streaming, a move the company said will give both businesses a better chance to grow.
Netflix, based in Los Gatos, California, will create a wholly owned DVD-by-mail subsidiary called Qwikster “in coming weeks,” Chief Executive Officer Reed Hastings said in a blog post yesterday. The company doesn’t plan to spin off the DVD division, said Steve Swasey, a spokesman.
