Ailing Blockbuster bought by Dish Network for $320 million
I drive by more empty Blockbusters than full one these days, and the ones that are open have signs of desperation plastered on their windows that say things like "ALL MOVIES $2!" or "RENT ONE GET FOUR FREE." or something close to that.
Needless to say it's not the best of times to be Blockbuster as Redbox, Hulu and Netflix (and The Pirate Bay) take over. I've been waiting to write the story of their full-on collapse for years now, but today is not that day.
Someone believes in the brand, as Dish Network has bought the company for a total of $320 million. Why on earth would they do this? Here's the official word:
"With its more than 1,700 store locations, a highly recognizable brand and multiple methods of delivery, Blockbuster will complement our existing video offerings while presenting cross-marketing and service extension opportunities for DISH Network," said Tom Cullen, executive vice president of Sales, Marketing and Programming for DISH Network. "While Blockbuster's business faces significant challenges, we look forward to working with its employees to re-establish Blockbuster's brand as a leader in video entertainment."
Because nothing says "modern technology" like driving to the store to rent a movie, or attaching a satellite dish to your roof...
Will this acquisition save the company, or are they just delaying their inevitable doom?
|Extra Tidbit:||Has anyone used Gamefly? Is it any good?|