Blockbuster May Declare Bankruptcy
by Susana Polo | 3:56 pm, March 17th
After years of going up against the likes of Netflix, Redbox, and internet piracy – tough competition that is only getting tougher – Blockbuster may be voluntarily declaring bankruptcy.
From The Hollywood Reporter:
The once-mighty video chain, which reported a fourth quarter net loss of $434.9 million, has been trying to diversify into new distribution channels as rentals and sales at its 6,500 stores worldwide continue to dwindle.
Apparently, Blockbuster is about $1 billion in debt:
Read on...







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