Netflix on Monday announced that it will abandon its plan to spin off the company’s DVD rentals-by-mail service. The home entertainment giant announced last month that it would break off its DVDs-by-mail service into a separate company called “Qwikster,” allowing it to focus on the Web-based content that represented the future of its business. “It is clear that for many of our members two websites would make things more difficult, so we are going to keep Netflix as one place to go for streaming and DVDs,” Netflix CEO Reed Hastings wrote on the company’s blog. “This means no change: one website, one account, one password… in other words, no Qwikster.” Shares of Netflix stock jumped more than 11% in pre-market trading on the news. Netflix lost more than 30% of its market value since the company first announced its Qwikster spin-off.

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Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.