BlockBUSTED Video?

Blockbuster Said to Hire Firm for Bankruptcy Advice (Update1)
By Tiffany Kary


March 3 (Bloomberg) -- Blockbuster Inc., the world’s largest movie-rental chain, hired legal counsel to explore a possible bankruptcy filing, a person familiar with the situation said. Blockbuster plunged 75 percent on the news.

Kirkland & Ellis LLP was asked to evaluate restructuring options for the company, which may include a “pre-packaged” or “pre-arranged bankruptcy,” in which much of the restructuring work is completed out of court, the person said. A pre-packaged filing is more advanced than a pre-arranged bankruptcy as it includes agreements from creditors about the outcome of the company’s reorganization.

Blockbuster, with more than 7,500 stores in North America, Europe, Asia and Australia, has faced increased competition from Netflix Inc., the largest U.S. mail-order movie service. Dallas- based Blockbuster has expanded its digital library of movies and made them available on mobile phones and Web-connected TVs. It plans to offer 90,000 DVD titles by mail, according to the company’s Web site. Karen Raskopf, a Blockbuster spokeswoman, declined to immediately comment. Kate Kortenkamp, a Kirkland spokeswoman, didn’t immediately return a call seeking comment.

On Jan. 14, the company announced a partnership with Novato- California-based Sonic Solutions Inc., a digital video publishing company, to combine libraries and give customers immediate access to movies. It also recently released a media player the size of a cable box that downloads movies for viewing on television.

Blockbuster fell 72 cents to 24 cents at 2:12 p.m. in New York Stock Exchange composite trading. Netflix surged 4.5 percent, or $1.53, to $35.88 in Nasdaq Stock Market trading. .......(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=ajD0H6VR2i7E&refer=home

"Netflix."

I feel so guilty!

:thumbsup:

:rofl:

So the predatory Texas corporation becomes the prey (after taking out tens of thousans of independents and Mon & Pops).

Good riddance.

http://www.familyvideo.com/

privately held corporation and third largest video chain in the usa

and they are hiring.....

I always chuckle because the name is "Family Video" but they have a huge adult section in the back of the store.

started the assembly line.
Inevitable.

I've been spoiled by Netflix, but ballbuster didn't even have "Butch Cassidy and the Sundance Kid."

And they never stocked the movies I wanted to see anyway.

It rocks and the selection is far better than Netflix.
I agree the stores are limited and pricey.