WebProWorld
As Blockbuster.com continues its struggle to compete with the much more popular Netflix movie rental service, the company is starting an online video game rental offering to compliment its movie offering.
This was announced a while back, but today’s announcement puts a date to its launch – June 30. It will start in Cleveland, but is planned to go nationwide by the end of the year. The Cleveland pilot test will be open to all Blockbuster Total Access and Blockbuster By Mail subscribers.
Mom-and-Pops might get to watch Blockbuster close up shop for a change. In a filing with the SEC, the movie rental company acknowledges it may not be able to secure a $250 million loan to continue operations.
Blockbuster, which operates 7,400 stores in 20 countries, had hoped to close next month on financing that would float them until 2010. Because of lender reluctance and the illiquidity facing the larger economy, however, the company may not be able to meet lenders’ terms. From the SEC filing summary:
Blockbuster has partnered with Sonic Solutions to offer Video on Demand on a wide variety of consumer electronic devices in an effort to stay competitive with Netflix.The two companies are working with a number of consumer electronic manufacturers, including Sonic’s CinemaNow, to expand the ecosystem of interoperable devices offering the Blockbuster service.The devices will include PCs, portable media players, Blu-ray Disc players, set-top boxes, mobile phones and Internet -connected television sets.
Blockbuster is introducing its own set-top box, which will bring movies directly to a user’s TV and provide access to on demand content.The MediaPoint digital media player by broadband device maker 2Wire is available to Blockbuster customers for $99 and includes 25 movies. After the initial 25 rentals, movies are available for $1.99 each to $3.99.
The Wall Street Journal this morning is reporting that Blockbuster (NYSE: BBI) is trying to buy beleaguered consumer electronics retailer Circuit City (NYSE: CC), which the market is not to thrilled about: Blockbuster stock dropped precipitously in early trading while Circuit City stock jumped up.
Blockbuster has announced that it has purchased Movielink, a movie download service the price of the deal has not been released.
Steve Jobs will take the big blue and yellow signs along with the customer lists Blockbuster owns and turn them into an Apple digital video empire, in a scenario contemplated by pundit Robert X. Cringely.
Joss Whedon, whose “Firefly” TV series didn’t last a season, convinced a studio to produce a feature-length motion picture based on the series when DVD sales went through the roof.
Corporate raider Carl Icahn and his two associates won seats on the Blockbuster board today after a heated battle with CEO John Antioco. The battle had been raging for weeks after Icahn bought up significant share in the video rental company to make him the lead stockholder.
Corporate raider Carl Icahn fire burning arrows into the Blockbuster’s tower yesterday during a teleconference call on quarterly earnings. The war of words with Blockbuster president John Antioco escalated the fight between the two corporate wizards.
