Printed from http://www.electronista.com

Blockbuster goes under, closing last 300 stores, ending DVD by Mail

updated 05:16 pm EST, Wed November 6, 2013

Video rental service to breathe its last by January

Dish Network, parent company of Blockbuster, announced on Wednesday that the video rental service would be ending both its retail and mail DVD distribution operations by early-January 2014. Blockbuster will close its roughly 300 remaining U.S.-based retail locations and distribution centers in early January. The Blockbuster By Mail DVD distribution service, set to expire in mid-December, will continue to serve existing customers until that time.

Even as actual Blockbuster operations cease, Dish Network will retain the brand name, as well as a number of its key assets. Among those are the company's video library, which Dish will leverage to strengthen its Blockbuster @Home service for Dish customers. It will also keep the Blockbuster on Demand streaming service alive for the general market.

Once a powerhouse in the post-theater video rental market, Blockbuster's fortunes faltered with the rise of the DVD and worsened with the emergence of Netflix, iTunes, and on-demand services from cable providers. The company staggered on for a time, but it was eventually bought by Dish Network in a 2011 bankruptcy auction.

At its height in 2002, Blockbuster had a market cap of $5 billion. The chain had 1,500 stores and 15,000 employees by the time Dish bought it for $320 million. It currently has about 300 remaining stores, and Dish plans to lay off as many as 2,800 of its remaining employees.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Cambridge Audio DacMagic XS

Every computer with a microphone or headphone port has one -- a digital to analog converter (DAC). There are nearly as many chipsets a ...

D-Link Wi-Fi Smart Plug

Home automation fans have been getting their fair share of gadgets and accessories in the last few years. Starting with light bulbs, a ...

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Sponsor

toggle

Most Commented

 
toggle

Popular News