Blockbuster Sets Date For Its Bankruptcy
by Susana Polo | 12:08 pm, August 27th
According to The LA Times, Blockbuster and its biggest debtors have already discussed their plans to declare bankruptcy by mid-September with Fox, Paramount, Sony, Universal, Disney and Warner Bros.
Blockbuster has lost a total of $1.1 billion since the beginning of 2008 and has been severely hamstrung in efforts to grow its business due to interest payments on $920 million in debt. Earlier this month the company announced that most of its debt holders had agreed to a forbearance on interest payments until Sept. 30, during which time it would attempt a recapitalization.
Blockbuster’s bankruptcy looks like it’s going to be something of a tangled mess of retail vs. Hollywood vs. digital connections.
Read on...













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