Tuesday, October 9, 2012

Netflix CEO to step down from Microsoft's board

Microsoft's Xbox 360 video game console became one of the first Internet-connected devices that could be plugged into a television set so selections from Netflix's library of movies and old TV series could be streamed into subscribers' households. Analysts credit the Xbox and other video game consoles for helping Netflix attract millions more subscribers during the past four years. "Reed has been a terrific board member, and his insights and experience have really helped guide us through a critical period of transformation for both Microsoft and the industry," Microsoft CEO Steve Ballmer said in a statement. A backlash followed Hastings' abrupt decision last summer to start charging separately for the company's DVD-by-mail plan and the service that streams video through the Xbox and a variety of other Internet-connected devices.

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