Tag Archives: Blockbuster Inc.
Dish Network Buying Blockbuster For $320 Million In Bankruptcy Auction
DISH Network Corp. (NASDAQ:DISH) has acquired Blockbuster Inc. in a $320 million bankruptcy auction. Dish Network outbid at least 3 other bidders including billionaire investors Carl Icahn. The deal includes over 1,700 Blockbuster stores and the rights to stream BLockbuster’s movies over the Internet.
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Categories Blockbuster, Blockbuster Inc., DISH Network Corp.
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Verizon Drops Price Of Samsung Galaxy Tab To $499.99
Verizon has dropped the price of the Samsung Galaxy Tab to $499. After buying the tablet, you will also get $60 worth of free movie rentals through the Blockbuster Media Hub application. Now that there has been a price drop, will you buy one? Let us know in the comments. [Droid-Life]
Blockbuster On Demand Available On Over 100 Devices
Blockbuster has announced that the BLOCKBUSTER On Demand service is now available on over 100 devices. These devices include smartphones, Blu-ray players, TVs, tablets, and digital media adapters. BLOCKBUSTER On Demand is the company’s response to Netflix’s video streaming services. Below is the full press release:
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Categories Blockbuster, Blockbuster Inc., Bruce Anderson
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Blockbuster Files Bankruptcy, Plans To Restructure
Blockbuster has filed for bankruptcy, but they’re not ready to throw in the towel yet. A group of bondholders and hedge funds that is being led by Carl Icahn has signed off on a restructuring deal that will give them controlling stake in the company that took a huge market share hit from Netflix.
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Categories Blockbuster, Blockbuster Inc., Carl Icahn
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NCR Orders Over 500 Blockbuster Kiosks
Shortly after Blockbuster (NYSE:BBI) was delisted, NCR made a deal with QuickTrip to have over 500 Blockbuster Express kiosks placed in almost all of their convenience stores.
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Categories Blockbuster, Blockbuster Inc., NCR Corporation
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Blockbuster Being Delisted From NYSE
Blockbuster Inc. (NYSE:BBI), trading at $0.18 and sitting on a market cap of $38.69 million is going to be delisted from the NYSE. Blockbuster failed to get shareholder votes on proposals that were designed to help the company comply with the NYSE requirements. Blockbuster did not get enough votes from shareholders to agree on a reverse stock split and a combination of Class A and Class B shares. There was also a low voter turnout. The only good news that Blockbuster announced is that debt-holders agreed to give Blockbuster a six-week extension for paying back $42.4 million interest and principal payment on a $630 million senior secured debt. [NewTeeVee]
Categories Blockbuster, Blockbuster Inc.
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Blockbuster Signs Deal With Fox and Sony
Blockbuster has signed deals with Fox and Sony. The deal is very similar to a deal that Blockbuster already has signed with Warner. Blockbuster’s deal with Fox, Sony, and Warner ensures that they will be able to rent new titles on the day they are released along with mail orders.
Blockbuster will also get favorable payment terms from the studios. Blockbuster has a plan to lower operating costs by about $200 million too. The movie studios made deals with Redbox and Netflix to allow new movies only after 28 days from the release date. [TechCrunch]
Categories Blockbuster, Blockbuster Inc., FOX, Netflix, Redbox, Sony Corporation, Warner, Warner Bros., Warner Brothers
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Carl Icahn Unloads Tons of Blockbuster Stock
Carl Ichan has sold off most of his stock in Blockbuster Inc. this week. Icahn sold off almost all of his Class A common stock with a price of about $0.26 each. The sales of the Class A stock was worth about $3.4 million. He bought it the stock for over $100 million years ago.
Icahn also sold off his holdings of the Class B stock, cashing out about $241,000. He suffered a 98% loss on that investment. Icahn owns about $38 million of Blockbuster in the form of convertible preferred shares. This could be converted into 7.4 million class A shares.
Today, Blockbuster has to make a $43 million payment on senior secured notes. The company may have to file for bankruptcy soon. [WSJ]
Categories Blockbuster, Blockbuster Inc., Carl Icahn
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Blockbuster Store Employee Stabs Himself In An Attempt To Avoid Work
Aaron Siebers did not want to go into work at Blockbuster the other day. So what does he do? He stabs himself and tells co-workers that some skinheads tried to rob the store. Siebers should have known that he was under surveillance. There was no actual robbery, only a terrible plot hatching. Siebers ended up confessing and was rushed to a hospital nearby. Who would have though that working at Blockbuster would cause someone to go nearly Seppuku on themselves?
Categories Aaron Siebers, Blockbuster, Blockbuster Inc.
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Blockbuster On Demand Now Available On A TiVo Near You
The On Demand service from Blockbuster Inc. (NYSE:BBI) has launched on TiVo box devices. The Blockbuster service is compatible with the Series2, Series3, TiVo HD, and the TiVo HD XL DVR system. The rentals will range from about $2.99-$3.99. The classics will be $2.99 and new releases will be $3.99.
“Blockbuster nights are synonymous with family and fun, something that goes perfectly with the TiVo experience,” stated TiVo SVP of Sales and Marketing Joe Miller. “By bringing Blockbuster’s content direct to TiVo subscribers, we show once again that TiVo offers much more choice and convenience for our customers compared to other DVR offerings. We are very pleased to say that customers can now walk into a participating BLOCKBUSTER store to purchase TiVo DVRs and that together both companies have succeeded in bringing even more entertainment direct to the living room.”
Categories Blockbuster, Blockbuster Inc., Joe Miller
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