Blockbuster may have been saved when Dish Network purchased them in April 2011 for $228 million, but it looks like that in less than a year the second largest satellite TV provider needs to trim some fat. The company will close down a number of Blockbuster stores shortly. Blockbuster recently reported its first increase in subscribers in over two years, thanks largely to its Blockbuster purchase. Nevertheless, the company said this week that it will close a third of Blockbuster's 1,500 brick-and-mortar rental outlets, with more planned in the future.
Dish reported earnings of $313 million for the October - December period, up from $252 million a year ago. Revenue was also up 13 percent to $3.63 billion. Dish added 22,000 subscribers in the quarter as well. Dish now has an estimated 14 million U.S. subscribers.
After acquiring the movie rental chain in April of last year, the company created a Blockbuster-branded streaming service which it bundle with its satellite services.