06 March 2009

Blockbuster Video's Days Grow Short

Another once imposing tower of corporate domination is about to be toppled into nonexistence and oblivion. Nearly all Americans having been going to the video store over the last generation on a regular basis, primarily to Blockbuster Video. But competition, technological changes, and horrible management and executive decision making in recent years has driven Blockbuster to the edge of its existence. The corporation's hiring of eminent bankruptcy lawyers along with the financial abyss Blockbuster is buried beneath all but signifies the imminent demise and disappearance of a noteworthy part of the American landscape within the next 60-90 days everywhere. Netflix will be the primary beneficiary of the death of Blockbuster, along with Redbox and the smattering of grocery stores still peddling videos, as well as the few smaller video stores still in existence.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a_D.1Pk.0a_c&refer=home

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