...Blockbuster
Blockbuster was bought by Dish Network for a measly $320 million. I say measly because less than a decade ago Blockbuster was the number 1 movie rental chain and was valued at $5 billion. Dish expects to pay about $228 million in cash to acquire Blockbuster's assets, which as of February 27 included more than $100 million of receivables and cash and a rental library estimated to be worth $175 million. Though this is possibly a very good move for Dish, the nations number 2 satellite company, behind DirecTV, it just shows how far Blockbuster has fallen. I remember when Blockbuster would be packed full of people over the weekend, now I can barely find one, or maybe I am just not looking for them. Thanks to the arrival and popularity of NetFlix and Redbox just a few years ago the high priced movie rental chain tumbled. With debt in the billions and having already filed for bankruptcy they started closing a lot of stores and selling off the retail space, something that Dish says it will continue. I am seeing a definite end to Blockbuster as an actual store, it may survive however online or with kiosk like their main competition. Blockbuster will be receiving a Digit Down for its horrible fall from atop the movie rental world. 
Blockbuster was bought by Dish Network for a measly $320 million. I say measly because less than a decade ago Blockbuster was the number 1 movie rental chain and was valued at $5 billion. Dish expects to pay about $228 million in cash to acquire Blockbuster's assets, which as of February 27 included more than $100 million of receivables and cash and a rental library estimated to be worth $175 million. Though this is possibly a very good move for Dish, the nations number 2 satellite company, behind DirecTV, it just shows how far Blockbuster has fallen. I remember when Blockbuster would be packed full of people over the weekend, now I can barely find one, or maybe I am just not looking for them. Thanks to the arrival and popularity of NetFlix and Redbox just a few years ago the high priced movie rental chain tumbled. With debt in the billions and having already filed for bankruptcy they started closing a lot of stores and selling off the retail space, something that Dish says it will continue. I am seeing a definite end to Blockbuster as an actual store, it may survive however online or with kiosk like their main competition. Blockbuster will be receiving a Digit Down for its horrible fall from atop the movie rental world. 
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