diff --git a/TOOLS/Makefile b/TOOLS/Makefile
index 1010420986..dd08ea223e 100644
--- a/TOOLS/Makefile
+++ b/TOOLS/Makefile
@@ -48,6 +48,26 @@ realcodecs: CFLAGS += -g
 %.so.6.0: %.o
 	ld -shared -o $@ $< -ldl -lc
 
+# FIXME: netstream linking is a mess that should be fixed properly some day.
+# It does not work with either GUI, LIVE555, libavformat, cdparanoia enabled.
+NETSTREAM_DEPS = ../libmpdemux/libmpdemux.a \
+                 ../stream/stream.a \
+                 ../dvdread/libdvdread.a \
+                 ../libdvdcss/libdvdcss.a \
+                 ../libavutil/libavutil.a \
+                 ../m_option.o \
+                 ../m_struct.o \
+                 ../mp_msg.o \
+                 ../osdep/libosdep.a \
+                 -ltermcap -lm \
+
+ifeq ($(TARGET_WIN32),yes)
+NETSTREAM_DEPS += -lwsock32
+endif
+
+netstream: $(NETSTREAM_DEPS)
+	$(CC) -o $@ netstream.o $^
+
 clean distclean:
 	rm -f $(OBJS)
 	rm -f fastmem-* fastmem2-* fastmemcpybench
diff --git a/TOOLS/netstream/netstream.c b/TOOLS/netstream.c
similarity index 100%
rename from TOOLS/netstream/netstream.c
rename to TOOLS/netstream.c
diff --git a/TOOLS/netstream/Makefile b/TOOLS/netstream/Makefile
deleted file mode 100644
index 57f06a06af..0000000000
--- a/TOOLS/netstream/Makefile
+++ /dev/null
@@ -1,33 +0,0 @@
-
-MPROOT=../..
-
-include $(MPROOT)/config.mak
-
-CFLAGS  = $(OPTFLAGS) -I$(MPROOT)
-
-all: netstream
-
-# FIXME: linking is a mess that should be fixed properly some day
-# it does not work with either GUI, LIVE555, libavformat, cdparanoia enabled
-DEPS = $(MPROOT)/libmpdemux/libmpdemux.a \
-	$(MPROOT)/stream/stream.a \
-	$(MPROOT)/dvdread/libdvdread.a \
-	$(MPROOT)/libdvdcss/libdvdcss.a \
-	$(MPROOT)/libavutil/libavutil.a \
-	$(MPROOT)/m_option.o \
-	$(MPROOT)/m_struct.o \
-	$(MPROOT)/mp_msg.o \
-	$(MPROOT)/osdep/libosdep.a \
-	-ltermcap -lm \
-
-ifeq ($(TARGET_WIN32),yes)
-DEPS += -lwsock32
-endif
-
-netstream: $(DEPS)
-	$(CC) -o $@ netstream.o $^
-
-clean:
-	rm -f *.o *.a *~
-
-.PHONY: all clean