BLOCKBUSTER SLASHES RENTAL RATES

Blockbuster, which was recently acquired by satellite operator DISH Network, is at last doing what many analysts had been urging it to do for years — compete with rivals like Netflix and Redbox on price. It announced on Thursday that beginning today (Friday) it is lowering the prices of thousands of videos to 99 cents [...]

TIVO, DISH SETTLE LAWSUITS

Acknowledging that TiVo’s legal strategy of enforcing its DVR patents was “formidable,” satellite TV provider DISH said today (Monday) that it had reached a settlement with DISH over all remaining litigation. As part of the settlement, DISH and corporate sibling Echostar Communications will pay TiVo $500 million — $300 million now, the remainder in six [...]

A CHIP OFF THE OLD BLOCKBUSTER WILL REMAIN

Blockbuster, which once counted more than 4,000 stores in its domestic chain, will soon be pared down to around 600, according to the Dallas Morning News, which cited a filing by its new owner, DISH network in federal bankruptcy court in New York. The chain now numbers 1,751 stores in the U.S. Published reports in [...]

DISH BUYS BLOCKBUSTER

DISH Network has become the winning bidder for Blockbuster, it announced today (Wednesday). In a statement following the auction, the satellite TV service said that its bid was valued at approximately $320 million but that after “certain adjustments” — particularly for Blockbuster’s cash and inventory — are made, DISH will actually pay approximately $228 million [...]

DISH NETWORK ACQUIRES BLOCKBUSTER

DISH Network has become the winning bidder for Blockbuster, it announced today (Wednesday). In a statement following the auction, the satellite TV service said that its bid was valued at approximately $320 million but that after “certain adjustments” — particularly for Blockbuster’s cash and inventory — are made, DISH will actually pay approximately $228 million [...]

ANTIOCO AND ICAHN WRITE BLOCKBUSTER POST MORTEMS

Former Blockbuster CEO John Antioco and corporate raider Carl Icahn face off in the current edition of the Harvard Business Review in separate articles over the collapse of the movie rental chain. Antioco makes the case that after Icahn bought up 10 million shares of Blockbuster in 2004 he and his handpicked board members began [...]

WILL BLOCKBUSTER SHUT DOWN?

In what appeared to some analysts as yet another step toward the disappearance of the familiar blue façades that have been a part of the U.S. retail scene for the past quarter-century, Blockbuster on Tuesday agreed to sell itself to a so-called stalking horse consortium of its debtholders for $290 million in a deal that [...]

KIOSKS REPLACING VIDEO STORES

For the first time, more people rented videos from kiosks during the third quarter of last year than they did from video rental stores, according to researchers NPD Group. According to its VideoWatch study, the share of rentals from kiosks rose 10 percent from the same quarter a year ago while rentals from video stores [...]

SUPERMARKET CHAIN PROTESTS BLOCKBUSTER’S CLOSING PLANS

Reminiscent of the efforts of shopowners who attempted to prevent the closure of outdated movie theaters that anchored shopping malls a generation ago, a supermarket chain is attempting to halt Blockbuster’s plans to shut down many of its stores in strip malls in California and Oregon. As reported by Home Media magazine, the Safeway chain [...]

BLOCKBUSTER REPORTS ON HIGH COST OF BANKRUPTCY

Business does not appear to be improving for struggling Blockbuster. In the past, it was weighted down with back-breaking debt; now, it is shouldering the high costs of bankruptcy reorganization. In a bankruptcy court filing reported today (Wednesday) by Home Media magazine, the movie “rentailer” declared a net loss of $42.1 million on $142.6 million [...]

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