Dish Network to shutter 200 more Blockbuster stores

By on July 22, 2011 at 7:20 PM.

Dish Network to shutter 200 more Blockbuster stores

Dish Network on Thursday revealed plans to shutter 200 additional Blockbuster stores, dropping the number of nationwide locations to approximately 1,500. Dish won an auction to take control of Blockbuster and its remaining assets this past April, after the fallen giant filed for bankruptcy last September. Dish said that the 15,000 employees working in Blockbuster locations that will remain operational will not lose their jobs. The company also said employees of the locations set to be shuttered will have the opportunity to transfer to other stores. Blockbuster failed to evolve with the shifting movie rental industry — when it finally did begin to offer new portfolio options to compete with the likes of Netflix, it neglected to add any real value or differentiation beyond competitive offerings. Coupled with the expense of operating physical rental shops, Blockbuster didn’t stand a chance. Dish Network acquired Blockbuster’s in April for approximately $228 million in cash, and it remains to be seen whether or not Dish can manage to transform the current business into something worthwhile. More →

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Dish’s Blockbuster buy approved by judge

By on April 7, 2011 at 11:46 PM.

Dish’s Blockbuster buy approved by judge

A bankruptcy judge on Thursday approved Dish Network’s winning bid and gave it the OK to acquire Blockbuster for $320 million. Dish’s bid topped other bidders including Cobalt Video, a group of hedge funds lead by Monarch Alternative Capital, and billionaire investor Carl Icahn earlier this week at an auction for Blockbuster’s business and assets. New York Judge Burton Lifland gave his approval in bankruptcy court, and Dish will now assume control of 1,700 remaining Blockbuster locations, the company’s DVD-by-mail business and its streaming video business. Now that a judge has approved the deal, Dish is expected to pay roughly $228 million for Blockbuster when factoring in the value of the fallen video giant’s remaining cash and other assets. Proceeds from the sale will help Blockbuster’s creditors, which include multiple movie studios and Carl Icahn, reclaim a portion of the $1 billion they are collectively owed. More →

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Dish Network wins Blockbuster auction

By on April 6, 2011 at 7:50 AM.

Dish Network wins Blockbuster auction

Pending approval at a hearing scheduled for Thursday, Dish Network will acquire Blockbuster Inc. following an auction that took place earlier this week. The company’s winning bid was approximately $320 million but the acquisition is expected to land at about $228 million in cash, taking into account Blockbuster’s inventory, available cash and other adjustments. Blockbuster was put up for sale at an auction on Monday following its recent bankruptcy filing, and several companies competed for control of Blockbuster’s business and assets. Dish’s winning bid topped several other bidders including Cobalt Video, a group of hedge funds lead by Monarch Alternative Capital, and billionaire investor Carl Icahn. “Blockbuster will complement our existing video offerings while presenting cross-marketing and service extension opportunities for Dish Network,” said Dish Network’s EVP of sales, marketing and programing, Tom Cullen. More →

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Google TV gets official

By on May 20, 2010 at 12:44 PM.

Google TV gets official

google-tv

Combining the web and TV in an orgy of awesome, today at I/O 2010, Google announced Google TV. With the goal of mashing together the web and TV without accepting compromise, Google is hoping to let people take advantage of the biggest and best screen in their house. Check out all of the features after the jump! We promise it’s awesome. More →

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Google to partner with TiVo and DISH Network, DVR info to be analyzed

By on November 24, 2009 at 1:40 PM.

Google to partner with TiVo and DISH Network, DVR info to be analyzed

Tivo and Google TV

Grab your tinfoil hat and rip the coaxial out of your TiVo privacy-freaks. Search giant Google has setup strategic partnerships with TiVo and DISH Network to analyze customer DVR data in a move billed to better “align advertisers with viewers.” Google TV will do what Google does best — mine data —  TiVo and DISH will be providing Google with “second-by-second viewing information on who’s changing channels and when, who’s fast-forwarding through commercials and anonymous information on viewers themselves.” We’re unclear as to how information can be both anonymous but about the viewer? The information will be used to more accurately target and price 30 and 60 second advertisement spots as the data will be able to indicate just how many people actually watched that Viagra ad, versus how many people fast forwarded over the bloody thing. More →

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