If you’ve always dreamed of owning a giant gumball machine, a movie ticket-shaped “OPEN” sign, or hundreds of empty DVD cases, you’re in luck. While it’s sad that Blockbuster Video locations are finally shutting down, this is a boon to anyone who wants to pay strange prices for the equipment to open their own DVD rental store. [More]
New Blockbuster owner Dish Network believes in its near-obsolete movie rental chain so much that it’s keeping 1,500 of the stores open. This means more than 15,000 employees will get to keep their jobs. The optimistic move runs counter to previous reports that Dish would keep only 500 Blockbusters open.
Do you have any Blockbuster Video gift cards lying around the house? Better find them and use them up soon, assuming that you can find a Blockbuster outlet. Multiple sources inside the company have let us know that those gift cards won’t be accepted after April 6, 2011 due to the company’s bankruptcy.
Mired in $1 billion of debt, Blockbuster asked the U.S. Bankruptcy Court to let it auction itself off. After restructuring its plan to better suit creditors who were calling for liquidation, Blockbuster has been granted verbal approval by the court to go ahead and put itself on the market. The judge still has to put his decision in writing to make it official.
Deposed video rental king Blockbuster filed a motion in U.S. Bankruptcy Court to put itself up for sale, starting an auction in which it already says it has a bidder.
While many of you have probably seen the Blockbuster DVD rental kiosks, what a lot of people aren’t aware of is that these Redbox-like devices have virtually nothing to do with their bankrupt namesake. But now that the once-great video chain is in the headlines for its Chapter 11 filings, the owners of the Blockbuster kiosks are making sure users know about the difference.
Why rent the cow when you can borrow the milk for free? That seems to be the mindset of many Americans, as a new study claims that more DVDs are borrowed from libraries each day than are rented via Netflix, Redbox or Blockbuster.
Even when it was the biggest bully on the playground, Blockbuster Video was never really known for its amazing customer service. And now that the company’s death rattle is growing louder, the idea that “the customer is always right” has apparently become “you’re wrong because yeah, whatever.”
In spite of its recent moves to remain competitive, video rental dinosaur Blockbuster continues to lose ground to newer services like Netflix and Redbox. And a new report from analyst Michael Pachter with Wedbush Morgan Securities makes the scenario look even more bleak.
With one foot in the grave already, Blockbuster is doing everything it can to keep from being dragged down into bankruptcy hell. From making risky deals with studios to get a 4-week head start on new titles to considering getting into the video game biz, they’re throwing everything against the wall in the hopes that something sticks. And in a new interview, the company’s CEO takes aim at the video-streaming service offered by Netflix.
Never you mind Blockbuster has admitted they might need to declare bankruptcy, or that it’s in danger of being thrown off the NYSE, or that its single biggest investor dumped his stock in a 3-day fire sale… the once-majestic video rental giant is still gripping onto life with both of its arthritic hands, having signed deals with two more studios — Fox and Sony — that will allow Blockbuster to make new movies available across multiple platforms on the day of release.
Things continue to look bleak for once-great video rental chain Blockbuster as it was revealed today that billionaire Carl Icahn, once the biggest single shareholder in the company, has unloaded around 78% of his Blockbuster stock in the last week.