Dish to Close a Third of Blockbuster's Stores

February 24, 2012 -

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.

Source: PaidContent.org


Comments

Re: Dish to Close a Third of Blockbuster's Stores

It's about time

I don't feel bad Blockbuster killed all the mom and pop stores in the 90s and replaced the rental industry with high priced rentals. Let's face it Redbox and Netflix has lowered the price back to where it should be at

Re: Dish to Close a Third of Blockbuster's Stores

I actually think Blockbuster could stay open and compete.

1) They carry blue ray DVDs and you can't stream those.

2) They have a larger selection than Red Box

3) They rent video games and have a larger selection than those.

 

Unfortunately, for a while now I haven't had much use for them since they never, ever get new video games and if you ask anyone who works at the store they just tell you to check back on Thursday or some other random day of the week. I thinks that's why they are failing; incompetency and disorganization.

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