September 16, 2009 |
Blockbuster is looking lackluster. Facing increasing pressure from Redbox, Netflix Inc. and its own debt problems, the video rental giant is doubling the number of stores it is likely to close by the end of next year, the company revealed in a regulatory filing Tuesday. Struggling Blockbuster was previously aiming to shut 410 to 450 of its most unprofitable stores this year and next. A series of "accelerated closures" brings that target to 810 to 960. Blockbuster also said it might convert an additional 250 to 300 locations to outlets that focus on used DVDs.
August 13, 2010 |
Blockbuster Inc., struggling to service $919.6 million in debt, reported a wider second-quarter loss and said it received a six-week reprieve from creditors. The forbearance agreement is "substantially similar" to the prior one and is effective until Sept. 30, unless earlier terminated, Dallas-based Blockbuster said Friday. The video-retailer's loss grew to $69 million as sales tumbled 20 percent to $788 million. Lenders have been pushing for a pre-packaged bankruptcy in exchange for an extension on debt and interest payments, three people with knowledge of the situation said earlier this month.
February 7, 2013 |
“I feel the need, the need for speed” Maverick and Goose are flying high once again. The 1986 Tom Cruise fly-boy blockbuster “Top Gun” is soaring back into theaters Friday, souped up in 3D and IMAX. The 3D Blu-ray lands Feb. 19. With its glitzy visuals, flashy editing, attractive young cast and pop-pulsating score -- ”Take My Breath Away” won the best song Oscar -- “Top Gun” was one of the biggest hits of the year,...
April 7, 2009 |
Movie rental company Blockbuster Inc. said Monday the risk that it may not complete financing deals raised "substantial doubt" about its ability to continue as a going concern. Dallas-based Blockbuster, which has struggled amid the rising popularity of DVD-by-mail services such as Netflix, disclosed the warning in a filing with the Securities and Exchange Commission. The company had already cautioned last month that its auditor was likely to raise doubts about its ability to stay in business.
January 7, 2013 |
Roku, the maker of devices for streaming music and video in the home, bolstered its entertainment offerings with the addition of Time Warner Cable, Blockbuster on Demand and Fox Now -- among other services. The company said it has surpassed 700 channels on the Roku platform with Monday's addition of more television, music and games. Roku announced nine additional video partners, bringing shows from PBS, SyFy and A&E, new audio services, including iHeart Radio and Spotify, and interactive entertainment from Big Fish and others.
November 6, 2013 |
A moment of silence, please - or, if you're of a religious bent, a prayer, perhaps - for Blockbuster. It's dead, but for those of a certain age at least, it won't be forgotten. The official obituary , in the cold language of the business world, goes something like this: Dish Network, which bought the bankrupt video rental business in 2010, announced Tuesday that it will close the remaining 300 Blockbuster stores. But that doesn't begin to tell the story. Oh no. Modern kids being raised on Netflix and on-demand have no idea what they've missed.