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Netflix raised Chief Executive Reed Hastings's compensation package to $4 million for 2013, essentially doubling his pay this year.

The availability of kids TV shows on Netflix is only a small, contributing factor in the recent ratings challenges of such networks as Viacom's Nickelodeon, Turner Broadcasting System chairman and CEO Phil Kent told an investor conference on Thursday.

Georg Szalai With other industry moguls in the audience, he also tells an annual UBS investor conference that advertising trends in the first quarter of 2012 feel stronger than in the current fourth quarter. read more

David Zaslav, CEO of Discovery Communications, called his company's licensing pact with Netflix an 'economic win' and also said there's a disconnect between the strong advertising market and the overall economic malaise.

In a post on The Netflix Blog that went up Sunday night, the company's CEO, Reed Hastings, announced that Netflix would split its DVD-by-mail service and its streaming-video service into two companies. The new DVD-only company, called "Qwikster," will be completely separate from the streaming business. Hastings also expressed contrition for the way the company rolled out its recent price hike, which alienated many customers.