Wednesday, April 6, 2011

Blockbuster Put Out of its Misery

The DISH Network, which apparently likes to be spelled in all caps, has bought the crumbs of the once-mighty Blockbuster.  For $228 million in cash, DISH picked-up the assets that remained after the September, 2010 bankruptcy filing.  Here's their super-optimistic statement:

 “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.



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.”

Blockbuster still has store locations?  Where?  Kuala Lumpur?  Other than the kiosk at my local Tom Thumb, I didn't realize there was anything left.  I suppose DISH could plaster the Blockbuster brand on their pay-per-view movies which their customers could watch when it's not raining.   

2 comments:

domanidave said...

Or, maybe they just wanted to throw $228 million away. I know I certainly have the urge to do that now and then. On the other hand, maybe their market research showed the brand was worth the investment.

Mike, Studio city said...

This makes no sense. It would be like if Target bought Woolworth's because "they have stores and cheap stuff". I have a feeling Netflix is getting a chuckle out of this.