Posted on 04/19/2011 8:37:16 PM PDT by TheDingoAteMyBaby
The satellite-TV company will likely close a majority of the 1,751 stores currently operating in the U.S.
Dish Network, which will soon become the official owner of the Blockbuster video-rental chain, filed documents with Bankruptcy Court Saturday stating that it intends to keep some 600 Blockbuster stores open after its purchase is finalized.
Earlier this month, Dish won a bidding war for the struggling rental company with an offer of roughly $320 million.
According to the Los Angeles Times, Blockbuster currently operates 1,751 stores in the U.S., which means that the new owners will likely be closing more than 1,000 stores nationwide.
Dish Network has not revealed whether the number of stores it plans to operate will still be 600 by the time all is said and done. However, it is believed that the satellite TV provider intends to both maintain a retail presence and use Blockbuster's brand name to create an online service to rival Netflix.
Although Dish Network technically has until May 5 to make its purchase official, the $320 million acquisition is expected to close on Thursday.
So the rude dingbats that used to work for blockbuster can go get a job at Mackie-D’s?
Obama’s economy is represented by 200,000 applying for 50,00 jobs?
Way to go Zero!!!
The first affirmative action president is making great progress in destroying the country!
one dying industry buying out another dying industry.
Blockbuster was my first job after college. I used to frequent their very first store in Dallas at Preston Royal. Amazed they lasted this long.
I just bought 12 movies ranging in price from 3 to 5 dollars at our local BB that is closing
Satellite TV is dying?
I have been meaning to take pictures of the remaining Blockbusters in my area. Will be interesting to explain to My twin baby Boys...”You see, there were these places, where your Mom and I would wait in line for hours to pay 5 bucks, thats like 100 bucks today, to rent a single movie.” I also remember freaking out when they switched to dvd. Heh.
Hoisted by their own petard!
For $21.99 a month for unlimited rentals, they sure beat cable prices for my entertainment dollars. And they managed to close every grocery store movie rental stand $.99 price for a short time.
But after they decimated their competition, they immediately raised their prices, and priced themselves out of the entertainment marketplace.
Kharma in action, gotta love it!
I think so. The die is cast.
100 dollar cable bills will be a thing of the past as more video content is distributed over the net and over the air.
Also, AM talk radio is next. I get my car talk from podcasts almost exclusively.
I still lament whenever I return to Fort Lauderdale, when I drive by the site of the former Peaches Records and Tapes store to find an empty lot.
Question: There are many older films that have never been released on DVD. Is it worth it to buy the films on VHS and convert them to disc or are there other alternatives?
Sounds like Congressman Jesse Jackson Jr. needs to weight in on this. Obviously this whole online movie situation is killing jobs left and right. Now I know that Jesse will probably be the first to admit that he himself knows how to download movies and may even have done so a time or two himself.
But now he’s going to have to amend his newly proposed legitimation banning ipads (which are single-handedly responsible for book stores closing and newspapers and magazine companies folding) to include banning online movie downloading as well. Exempting Congress and their staffers, of course.
I passed three former Blockbuster Video stores on the way home from the grocery store the other day. All had gone out of business in the last few months.
They had lousy service, were frequently dishonest, had poorly trained employees, a cruddy business model, and a meager selection.
I’m glad that they are gone and can’t see doing business with anything or anyone in their stead.
Good riddance.
Which location was it? There was a Peaches by the Galleria Mall on Sunrise Blvd. but it’s now a Hustler Hollywood store.
Yep, it was the one on Sunrise Boulevard, it’s been a few years since I’ve been back, so I wouldn’t be surprised if they replaced it by now.
I remember the outside of the store sported large artist renderings of album covers, and they changed every so often.
Yep, the first time I saw that, I thought it was the coolest thing.
I lament this passing piece of Americana - the video rental store. The people at my town’s sole remaining Blockbuster seem friendly enough albeit with a bit of eccentricity thrown in for the sake of entertainment.
The only input devices hooked up to my TV is lap top computer, blue ray and the old fashion antenna
I think the Peaches near me in Altamonte Springs is a doctors office now.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.