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Netflix Inc. on Wednesday said its third-quarter net income grew as the online movie rental company continued to attract subscribers, particularly to its Internet streaming service.
The company also raised its subscriber growth forecast for the current quarter, sending shares higher in after-hours trading.
A large group of Blockbuster Inc. shareholders is seeking a better offer for the bankrupt movie rental chain than the deal that would put billionaire Carl Icahn and a group of hedge funds in control.
Shareholder Greg Maggipinto said he and other investors who own up to 40 percent of the stock think Icahn’s deal, which would wipe out his holdings, undervalues the company. Get the full story »
Online movie rental company Netflix Inc. and NBC Universal Domestic Television Distribution have expanded their license deal that covers TV shows subscribers can watch instantly by streaming them online, the companies said Friday. Financial terms of the multiyear deal were not disclosed. Get the full story »
Blockbuster's existing stores will remain open. (AP)
Blockbuster Inc. announced early Thursday that the company and its U.S. subsidiaries have filed voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for the Southern District of New York, hurt by major shifts in the way consumers view movies and media. Get the full story »
Netflix launched an online video-streaming service in Canada for films and television Wednesday, its first foray outside the United States and a direct threat to established cable companies. Get the full story »
Blockbuster Inc. is in the final stages of preparing a long-awaited bankruptcy filing, marking a milestone in consumers’ shift away from brick-and-mortar video stores to films delivered by mail and the Internet.
Blockbuster, struggling amid more than $900 million in debt, could file for Chapter 11 bankruptcy protection in the next few days, said people familiar with the matter. The filing could come as soon as Wednesday, they said, and is likely to come by Friday or sometime next week. Get the full story »
Netflix Inc. has reached an agreement to license first-run theatrical movies distributed by Nu Image/Millennium Films for online streaming during the “pay TV window,” when they’re usually available on premium TV channels.
Shares rose 3.11 percent, to $146.20, in late afternoon trading. The stock has more than doubled so far this year. Get the full story »
Shares in Netflix Inc. neared their all-time high on Thursday, after Apple Inc. said that the company’s streaming video service would be added to a new version of Apple TV.
The tie-in with Apple TV, a smaller, cheaper version of Apple’s earlier web-to-TV product, could cement Netflix’s dominance in the online movie rental business. Get the full story »
A customer looks at films at a Blockbuster Video store in Los Angeles. (AP Photo/Kevork Djansezian)
After dominating the home video rental business for more than a decade and struggling to survive in recent years against upstarts Netflix and Redbox, Blockbuster Inc. is preparing to file for bankruptcy next month, according to people who have been briefed on the matter.
Executives from Blockbuster and its senior debt holders last week held meetings with the six major movie studios to discuss their intention to enter a “pre-planned” bankruptcy in mid-September, said several people familiar with the situation who requested anonymity due to the sensitivity of ongoing talks. Get the full story »
Netflix iPhone app. (Netflix photo)
Netflix unveiled its long-awaited app for the iPhone on Thursday, sending the company’s shares almost 2 percent higher.
The free app lets Netflix members stream TV episodes and movies to their Apple iPhone or iPod Touch for no additional cost. Get the full story »
Blockbuster Inc. has won its second debt-payment deadline extension in as many months, but the struggling video rental chain reported a wider loss and warned it might have to liquidate, sending its shares plummeting more than 20 percent Friday. Get the full story »
Shares of Netflix surged more than 6 percent Tuesday, after the company announced an agreement with pay-cable movie channel Epix to stream films from three major movie studios online.
The deal gives Netflix exclusive rights to stream both new releases and older films from Paramount, Lionsgate and MGM on its site 90 days after Epix first debuts the films to its premium pay and on-demand TV subscribers. Netflix members will get access to the films starting Sept. 1. Get the full story »
Netflix Inc’s second-quarter revenue missed Wall Street’s expectations as more subscribers opted for lower-priced plans, and the company’s shares fell more than 9 percent after hours. Get the full story »
Mitch Lowe, president of Red Box, in Oakbrook Terrace. (Chuck Berman/Chicago Tribune)
From Bloomberg News | Oak Brook-based Redbox Redbox, known for $1-a-day DVD rental vending machines, may launch a Web based service to offer more movies beyond the 200 stored in its dispensers, President Mitch Lowe said. Get the full story >>
Blockbuster Inc stayed a step ahead of bankruptcy after winning a crucial one-month reprieve on debt payments, but was forced to begin the process of delisting from the New York stock exchange. Get the full story »
