Netflix is hitting rewind on an idea to split the company in two.
The move was initially announced last month in response to customer anger over a plan to raise monthly rates to $16 for subscribers who wanted to be able to both stream and rent physical DVDs.
Netflix CEO Reed Hastings introduced the idea of splitting his company in two, with Netflix being a streaming only company and Qwikster becoming the mail order DVD business.
But a stream of bad press -- including a "Saturday Night Live" spoof -- and continued customer backlash has forced Netflix to change its mind again.
Netflix's quick about face comes as the company says it will try to slow down its moves and decision-making.