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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 »
Redbox is hoping more people will grab a movie at the convenience store, along with that lottery ticket.
The dollar-a-night movie rental kiosks are expanding into EZ Mart Stores, Inc., Fastrac Markets, Murphy Express and VPS Convenience Store Group, thanks to a deal signed this week that will add locations in the Northeast, Southeast and Midwest. Get the full story »
Fast-growing DVD rental provider Redbox said it reached a milestone this weekend with the rental of its 1 billionth movie — “Clash of the Titans,” at a kiosk in Tampa, Fla.
The rental milestone occurred six years after the first kiosk appeared in Denver. 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 »
