The announcement Blockbuster Video was closing all its physical locations marked the end of an era. Anyone who ever rented a movie at a video store took a moment to think back on how radically and quickly things have changed. It was a significant media moment.
Predictably, Saturday Night Live had a different twist. They took the real life event and gave it a funny spin by following a few disillusioned, lost Blockbuster employees on a post-closure quest, featuring a cameo by Lady Gaga. It’s a cute, sweet tribute to the chain. Read More »
Posted on Tuesday, November 12th, 2013 by Angie Han
Last week’s announcement that Blockbuster would shutter all remaining locations marked the end of an era, so it seems only appropriate that the last-ever Blockbuster rental would also be about the end of an era. Albeit a slightly more explosive one.
According to the company’s official Twitter account, the very last rental to ever leave store shelves was This Is the End, the apocalyptic comedy directed by Seth Rogen and Evan Goldberg. Check out a photo from the bittersweet event and see Rogen’s response after the jump.
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Blockbuster Video killed the mom and pop video store, and now technology has finally killed Blockbuster Video. After slowly but steadily closing down locations for the better part of a decade, the company announced Wednesday it is finally going to close the final 300 locations by early 2014, and discontinue its rental-by-mail system by the end of 2013. The brand will remain, however, offering movies digitally.
While a few indie stores will always endure, this more or less marks the official end of the video store era. Read More »
Posted on Thursday, April 21st, 2011 by Angie Han
Earlier this month, Dish Network purchased Blockbuster, Inc. to the tune of $320 million (or “$228 million in cash after adjustments for available cash and inventory”) at a bankruptcy court auction for the once-great video rental chain. Blockbuster, Inc. filed for Chapter 11 last fall with nearly $1 billion in debt, much of it to major movie studios.
At the time, we wondered what the satellite television provider’s plans for Blockbuster were. Now, recent documents have made that picture a little bit clearer. Read on after the jump.
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Briefly: Once the reigning champ of home video retailers, Blockbuster Inc. went into bankruptcy not long ago. Now, as creditors have not been able to agree upon a plan to reorganize the company’s assets, the chain is up for auction. Four creditors (Monarch Alternative Capital, Owl Creek Asset Management, Stonehill Capital Management and Varde Partners) have created Cobalt Video Holdco, LLC in order to begin the sale with a ‘stalking horse’ bid: a $290m offer, which is intended to establish a lower threshold for bids. That collection of creditors could end up owning Blockbuster if no one else bids. Read More »