Blockbuster To Close 300 More Stores
Dish Network Corp. says it plans to close about 300 Blockbuster stores across the country, cutting another 3,000 jobs. At the time, Blockbuster boasted 1,700 physical brick-and-mortar stores and a streaming service. Company spokesman John Hall told The Denver Post on Monday that the closures will leave about 500 Blockbuster locations in the U.S. Blockbuster is owned by Dish Network. Dish itself has been hurting. The company lost 19,000 subscribers and reported $158 million in red ink for the third quarter. Fourth-quarter figures have not been released.
"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," Tom Cullen, executive vice president of sales, marketing, and programming for Dish, said in an April statement following the acquisition announcement.
Posted by | Tue, Jan 22, 2013 - 06:14 PM