Netflix to distribute games via Qwikster

Netflix is planning a rather dramatic restructuring of its company. The company is spinning off its DVD-by-mail program into a new service called Qwikster, one that will additionally offer video games by mail.

Netflix CEO Reed Hastings emphasizes that Qwikster will simply be "merely a renamed version of the Netflix DVD website, but with the addition of video games."

"We chose the name Qwikster because it refers to quick delivery," Hastings added on the Netflix blog. The Netflix name will continue to refer to the streaming services, currently available on the PS3, Xbox 360, Wii, and DS.

It's unclear how much Qwikster plus games will cost. The current cost of a DVD-only membership is $7.99 a month.