In a bizarre reversal, Netflix said on Monday it would return the business of DVD rentals and streaming under one roof.

The move means the company is abandoning Qwikster, the name given recently to the DVD rental business after Netflix top brass tried to spin it off into a separate unit.

However Netflix CEO Reed Hastings said in a blog that he was sticking by the unpopular decision taken in July to implement a 60% price hike for customers who wanted to rent DVDs and stream films.

As reported previously on Screendaily, the company is understood to be acquiring content ahead of launches in the UK and Spain early next year, followed by Japan and South Korea.