Blockbuster to operate more than 1,500 Stores

[Scott Greczkowski]

Blockbuster to operate more than 1,500 Stores ​

​

More than 15,000 Jobs Saved Nationwide​

MCKINNEY, Texas, July 21, 2011 – Blockbuster L.L.C. announced today it has assumed contracts with property owners nationwide and will maintain operations of more than 1,500 U.S. Blockbuster stores that would have closed under liquidation, as approved in a New York bankruptcy court this week. Blockbuster also will retain more than 15,000 store employees.

“We’re pleased that we will continue to operate more than 90 percent of the stores that were offered at auction in April,” said Michael Kelly, president of Blockbuster. “By lowering pricing and offering competitive summer promotions, we’ve brought millions of customers back into Blockbuster stores in the last three months to experience the best in convenience, choice and value. Today, more than 100 million people live near a Blockbuster store.”

“Unfortunately, despite our efforts to reach reasonable terms, some property owners have closed stores,” Kelly added. “However, we’ll continue to look for opportunities for physical distribution in these neighborhoods as we expand our in-store experience, unmatched for movies and family entertainment.”

Blockbuster recently rolled out an improved Blockbuster Total Access package, which provides benefits Netflix® doesn’t offer: availability of many new releases 28 days before Netflix; unlimited in-store exchanges; games for XBOX 360®, Playstation3™, and Nintendo Wii™, and no additional charge for Blu-ray™ movies.

On April 26, substantially all of the assets of Blockbuster, Inc., were sold to DISH Network Corporation (NASDAQ: DISH) in a bankruptcy auction, averting any sale to liquidators.

Follow Blockbuster on Twitter (http://twitter.com/blockbuster) and Facebook (http://facebook.com/blockbusterinc) for exciting deals or visit www.blockbuster.com/helloblockbuster to make the switch to Blockbuster Total Access

 

[isaacmorseMI]

[FONT=&quot]Blockbuster to operate more than 1,500 Stores [/FONT]

[FONT=&quot]
[/FONT][FONT=&quot]More than 15,000 Jobs Saved Nationwide[/FONT]​

[FONT=&quot] [/FONT][FONT=&quot]MCKINNEY, Texas[/FONT][FONT=&quot], July 21, 2011 – Blockbuster L.L.C. announced today it has assumed contracts with property owners nationwide and will maintain operations of more than 1,500 U.S. Blockbuster stores that would have closed under liquidation, as approved in a New York bankruptcy court this week. Blockbuster also will retain more than 15,000 store employees.[/FONT][FONT=&quot] [/FONT]
[FONT=&quot]“We’re pleased that we will continue to operate more than 90 percent of the stores that were offered at auction in April,” said Michael Kelly, president of Blockbuster. “By lowering pricing and offering competitive summer promotions, we’ve brought millions of customers back into Blockbuster stores in the last three months to experience the best in convenience, choice and value. Today, more than 100 million people live near a Blockbuster store.” [/FONT]
[FONT=&quot]“Unfortunately, despite our efforts to reach reasonable terms, some property owners have closed stores,” Kelly added. “However, we’ll continue to look for opportunities for physical distribution in these neighborhoods as we expand our in-store experience, unmatched for movies and family entertainment.”[/FONT]
[FONT=&quot]Blockbuster recently rolled out an improved Blockbuster Total Access package, which provides benefits Netflix® doesn’t offer: availability of many new releases 28 days before Netflix; unlimited in-store exchanges; games for XBOX 360®, Playstation3™, and Nintendo Wii™, and no additional charge for Blu-ray™ movies. [/FONT]
[FONT=&quot]On April 26, substantially all of the assets of Blockbuster, Inc., were sold to DISH Network Corporation (NASDAQ: DISH) in a bankruptcy auction, averting any sale to liquidators. [/FONT]
[FONT=&quot]Follow Blockbuster on Twitter ([/FONT][FONT=&quot]http://twitter.com/blockbuster) and Facebook (http://facebook.com/blockbusterinc) for exciting deals or visit www.blockbuster.com/helloblockbuster to make the switch to Blockbuster Total Access[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]About Blockbuster[/FONT]
[FONT=&quot]Blockbuster L.L.C., a subsidiary of DISH Network Corporation (NASDAQ: DISH), is a leading global provider of movie and game rentals and is synonymous with family entertainment. The company provides customers with convenient access to media entertainment anywhere, any way – whether in-store, by-mail, or digitally to homes and mobile devices. With a highly recognized brand and a library of more than 100,000 movies, TV shows and game titles, Blockbuster's multichannel presence serves millions of customers around the world annually. Visit [/FONT][FONT=&quot]www.blockbuster.com.[/FONT]
News
[FONT=&quot][/FONT]

 

[Mojo Jojo]

Scott beat you to posting a thread about this:
http://www.satelliteguys.us/dish-ne...er-operate-more-than-1-500-a.html#post2589953

 

[dfergie]

Scott beat you to posting a thread about this:
http://www.satelliteguys.us/dish-ne...er-operate-more-than-1-500-a.html#post2589953

Merged...

 

[isaacmorseMI]

Scott beat you to posting a thread about this:
http://www.satelliteguys.us/dish-ne...er-operate-more-than-1-500-a.html#post2589953

Woops. Didn't see that one.

 

[riffjim4069]

Out with Netflix, and perhaps in with BlockBuster...only if they hadn't closed all the area stores long ago.

 

[satjay]

Happy to see the Blockbuster only a few minutes away from us survivied its a good location, hopefully with the new prices and some new marketing, I think you can really gain business. Especially if you get the word out your rental program includes video games

 

[Scherrman]

I'm using my 3 months free trial right now. Love the fact I can get video games that way. May have to cancel my Netflix at some point but I only pay $6 for it.

 

[Paradox-SJ]

i heard that some new stores will be opening where to make up for where some store of closed due to expired / bad leases etc

 

[Ilya]

All BB stores within 15 miles from me have been closed.
If they re-open, I might cancel Netflix...

 

[DishSubLA]

Charlie always said he was never comfortable running a business he didn't understand or have experience with. He is a great satellite, MVPD master. But does ANYONE at Dish, especially Mr. Kelly whose previous experience was the internationals at Kelly TV that Dish bought, have ANY experience running retail stores? I hope they don't screw this up because Dish having a physical presence via Blockbuster does have potential, as does the streaming from Blockbuster. Let's hope Charlie doesn't kill this by being CHEAP.

 

[SamCdbs]

The important thing to remember here is this. Blockbuster went bankrupt. Not because it was run by bad people, not because of unions, not because of government regulations, not because of a downturn of the economy, not because it got bypassed by the new expressway, nor any other of the multiple reasons companies cite for their misfortunes.

It went bankrupt because it was the proverbial buggy-whip factory. Physical rental of recorded media at a story is no longer a viable industry. It does not really matter how well you run such a business.

 

[MikeD-C05]

I think you are exactly right. I saw back in the 90's that they predicted in many magazines like News Week , Time etc, that rental stores would go by the wayside by 2010. Looks like they were right. Digital downloads of video over internet are much easier for customers to get, than to get in your car, go to the store, look for dvds and rent them. You are correct that this technology is now defunct. The future is digital media download or streaming video over the internet. The real question now is will the internet providers allow people to download streaming video, without capping the bandwith usage. IF they charge too much, people will stop using Netflix or Blockbuster ,Amazon ,etc.