Blockbuster

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Blockbuster LLC
Type Subsidiary
Fate Bankruptcy
People who started it David Cook
Services Home video rentals
Total assets $37,000,000 (2010)
Parent Dish Network
Website blockbuster.com

Blockbuster was an American provider of home video (DVD, VHS), and video game rental services that was founded in 1985 and disestablished in 2013.[1] In 2004, Blockbuster had nearly 60,000 employees[2] and over 8,000 stores.[3][4]

Blockbuster was founded in 1985 by David Cook, a technician. In 1994 it was bought by media giant Viacom and in 1997 John Antioco was named CEO. In 2004, they launched the "Blockbuster By Mail" DVD service to compete with Netflix and In 2007, James Keyes, a 7-Eleven executive, replaced Antioco as CEO. Blockbuster also started "Blockbuster On Demand" as an online-streaming service. Blockbuster filed for bankruptcy on September 23, 2010.[5][6] On April 6, 2011, the company and its remaining 1,700 stores were bought by the satellite television company Dish Network and Michael Kelly of Dish was named President of Blockbuster.[7][8] Stores remained open until Dish closed all company-owned locations in 2013.

In 2015, Blockbuster replaced "Blockbuster On Demand" with Sling TV, an over-the-top television service. As of 2017, The Blockbuster Fan Page shows 12 franchise-owned stores remaining in operation in the USA.[9]

References[change | change source]

  1. "Blockbuster opening Mexico multiplex". IMDb. 
  2. "The Sad End Of Blockbuster Video: The Onetime $5 Billion Company Is Being Liquidated As Competition From Online Giants Netflix And Hulu Prove All Too Much For The Iconic Brand". International Business Times. 5 December 2013. 
  3. Rick Newman (February 6, 2009). "15 Companies That Might Not Survive 2009". US News. Archived from the original on December 5, 2010. Retrieved December 9, 2010. 
  4. Clifford, Stephanie (April 8, 2011). "Other Retailers Find Ex-Blockbuster Stores Just Right". The New York Times. 
  5. "Blockbuster LLC Chapter 11 Petition" (PDF). PacerMonitor. PacerMonitor. Retrieved 9 May 2016. 
  6. Blockbuster (September 23, 2010). "Blockbuster Reaches Agreement on Plan to Recapitalize Balance Sheet and Substantially Reduce its Indebtedness". Press release. http://investor.blockbuster.com/phoenix.zhtml?c=99383&p=irol-newsArticle&ID=1474126. Retrieved September 23, 2010.
  7. Fritz, Ben (April 7, 2011). "Dish Network wins bidding for assets of bankrupt Blockbuster". Los Angeles Times. Retrieved May 2, 2011. 
  8. "DISH Network Completes Acquisition of Blockbuster Assets". DishNetwork.MediaRoom.com. April 26, 2011. Retrieved June 16, 2011. 
  9. "The Blockbuster Fan Page".