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Securities and Exchange Commission

Blockbuster May Declare Bankruptcy

After years of going up against the likes of NetflixRedbox, 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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