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Blockbuster

Blockbuster filing for bankruptcy

September 23rd, 2010

Via a press release, Blockbuster has announced a “pre-arranged” bankruptcy in order to “recapitalize” and “substantially reduce its indebtedness.” The Chapter 11 filing will take the embattled company’s debt from roughly $1 billion down to $100 million; the filing is for the company’s U.S. branches only. “Blockbuster franchise locations in both the U.S. and abroad are independently owned, operated …

L.A. Times: Blockbuster to file Chapter 11 next month

August 27th, 2010

The Los Angeles Times is reporting that the once mighty Blockbuster will file for bankruptcy as early as next month. The Times quotes anonymous sources “familiar with the matter” in the report and explains that the filing could take five months and see 500 to 800 retail outlets closed. The company is seeking protection under Chapter 11 in …

Redbox developing an online streaming service to compete with Netflix?

July 20th, 2010

Redbox is reportedly exploring possibilites to expand its movie rental service beyond kiosks and onto the Internet. According to Redbox President Mitch Lowe, Redbox is considering a web service to to expand the availability of its 100,000 movie catalog and to make it easier for consumers to access its service. Initial details are not expected …

Blockbuster to be delisted from the NYSE

July 3rd, 2010

Blockbuster continues its downward spiral as it has been suspended from trading and forced to delist from the NYSE effective next Wednesday. Currently trading at $0.18 per share, Blockbuster failed to win majority stockholder approval last week for a reverse stock split that would have brought its stock above the $1 threshold and back in …

Blockbuster looking to sell its European stores?

March 15th, 2010

After a disappointing Q4 2009 performance, Blockbuster’s woes continue with the US video giant looking to pawn off its European operations as a means of generating some much needed cash. According to a report from the Sunday Times, Blockbuster has hired Winchester Capital to sell off its European division which includes 650 stores in the …

T-Mobile branded HTC HD2 and Nokia Nuron snapped in the wild

March 8th, 2010

Last night was easily the best night of the year for the celebrity-crazed paparazzi. It also turned out to be a pretty darn good night for the smartphone paparazzi as well for two upcoming T-Mobile handsets were given the star treatment on their very own red carpet. First up was the HTC HD2, the infinitely …

Blockbuster continues its decline, posts $425M loss in Q4

February 25th, 2010

Blockbuster continues its downward spiral with the once powerful movie rental company now posting yet another quarterly loss. Bad news across the board with sales plunging 16%, revenue falling 18%, and an income loss of $425 million which exceeds the $360 million loss posted in Q4 2008. Blockbuster is in tough shape; its stock is …

WIND Mobile to team up with Blockbuster to sell handsets

December 14th, 2009

It’s not a surprise that WIND Mobile and Blockbuster are joining forces to serve their own unique interests, but we’re told the partnership will be official very, very soon. All told, there will be 16 locations with 13 serving the Greater Toronto Area and 3 serving Calgary. No mention was made of any expansions outside …

Blockbuster sheds 34% of Total Access subscribers last quarter

August 24th, 2009

We haven’t really covered Blockbuster’s DVD-by-mail service since this past March when a string of policy changes finally culminated in our exclusive scoop covering the elimination of Total Access’ one competitive edge over Netflix — the ability of subscribers to enjoy their free in-store rentals while they awaited new DVDs to be delivered by mail. …

Blockbuster to pilot Total Access video game rentals

May 27th, 2009

We’ve long since given up on Blockbuster and the debacle that is Total Access. As the company continues to struggle with the evolving home entertainment industry, Blockbuster repeatedly reminds us all that it just doesn’t get it. That won’t stop it from trying though. According to the Wall Street Journal, Blockbuster will finally begin piloting …