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Wednesday, September 22, 2010

Film / News Blockbuster As You Know It Is About to Go Away

Posted by Paul Constant on Wed, Sep 22, 2010 at 11:43 AM

Says Daily Finance:

Blockbuster's long anticipated bankruptcy filing is apparently headed down the final stretch and could come by the end of the week, according to a Wall Street Journal report. One of the cost-cutting moves the video chain is teeing up calls for 500 to 800 additional store closures beyond the nearly 1,000 it previously planned, the article notes.

I imagine the name Blockbuster will be around for a while to come, but this is a pretty huge, fast downturn for a company that felt ubiquitous five years ago.

Netflix, meanwhile, is launching streaming-only service in Canada for $7.99 a month.

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