(AP) NEW YORK -- Netflix is abandoning its widely panned decision to separate its DVD-by-mail and Internet streaming services because it would make them more difficult to use.
Subscribers will be able to use both services under one account and one password, CEO Reed Hastings said Monday in a blog post.
Investors saw the reversal as an Oscar-worthy move, sending the stock up $11.24, or 9.6 percent, to $128.45 in premarket trading.
Less than a month ago, the Netflix said it would split the DVD rental business off on a new website, to be called Qwikster.
Subscribers howled at the move, saying they saw Netflix as a destination for movies in general and didn't want to manage two accounts.