News on Blockbuster Inc.

Blockbuster shares plunge on bankruptcy warning

2010-03-17T14:16:20Z

<div><p>Blockbuster shares plunged nearly 30 percent on Wednesday after the heavily indebted movie rental chain said it may be forced to declare bankruptcy.</p><p>Shares in Blockbuster, which has been struggling to keep pace with rivals Netflix and Amazon, shed 29.18 percent on Wall Street to close at...

Blockbuster down 35% on "going concern"language (BBI)

2010-03-17T20:00:17Z

Shares of Blockbuster (BBI) are off about 35% today, after the company used the dreaded "going concern" language in a 10k filing yesterday.

We incurred a net loss from operations in the year ended January 3, 2010 and have ...

Summary Box: Blockbuster shares down after warning

2010-03-17T12:17:16Z

<div id="subtitle">Summary Box: Shares of Blockbuster tumble after bankruptcy warning</div><div><p>THE WARNING: Blockbuster Inc. says in a regulatory filing that it may have to file for Chapter 11 bankruptcy protection.</p><p>THE REASON: Competition from DVD-by-mail company Netflix Inc. and DVD vending machines operated by Blockbuster Inc. sank 30 percent Wednesday after the video rental chain warned that it may have to file for Chapter 11 bankruptcy protection.</p><p>Competition from DVD-by-mail company Netflix Inc. and DVD vending...

Blockbuster raises bankruptcy as possibilty

2010-03-16T15:30:17Z

<div><p>LOS ANGELES (Reuters) - Video-rental chain Blockbuster Inc said on Tuesday for the first time it may need to file for bankruptcy protection after years of struggling to lessen its debt load.</p><p>The company's shares fell 10 cents to 30 cents in after-hours trade.</p><p>...

Blockbuster Late Fees Make Encore

2010-03-16T00:15:25Z

<div id="subtitle">Some consumers say they were taken by surprise by the new policy</div><div><p>At the beginning of this month, Blockbuster Video quietly reinstated late fees, with a whole lot less fanfare than when they did away with them five years ago. As a result, several consumers report being taken by surprise.</p><p>"Nobody in Blockbuster told me or my fiance of any new policy," Kelli, of ...

Kiosk operator NCR to put Blockbuster at Sheetz

2010-03-15T15:00:32Z

<div id="subtitle">Kiosk operator NCR to put Blockbuster vending machines at Sheetz convenience stores</div><div><p>Kiosk operator NCR Corp. said Monday it would place Blockbuster Express-branded DVD rental kiosks at nearly all 365 Sheetz convenience stores in North Carolina, Jackie Clegg resigns, Joseph Fitzsimmons nominated to replace Icahn</div><div><p>Blockbuster Inc. said Monday Jackie Clegg has resigned from its board of directors effective March 5, having served six and a half years as a director.</p>&l...

Ahead of the Bell: Blockbuster woes continue

2010-02-25T06:30:30Z

<div id="subtitle">Analysts see trouble for Blockbuster as competition from Netflix, others deepen sales declines</div><div><p>Shares of Blockbuster Inc. tumbled Thursday as analysts said the company may need to undergo a significant restructuring this year as competition from Netflix Inc. and DVD vending machines erode revenue, making it difficult for t...

Blockbuster posts 4Q loss of $435M as woes deepen

2010-02-24T16:30:32Z

<div id="subtitle">Blockbuster suffers 4Q loss of $435 million as more consumers rent from Netflix, Redbox</div><div><p>Blockbuster Inc. suffered a fourth-quarter loss of $435 million as its video rental stores struggled to attract consumers who are increasingly getting their movies through the mail, vending machines and high-speed Internet connections.&...

Blockbuster exploring strategies to claw back: report

2010-02-23T22:30:05Z

<div><p>(Reuters) - Blockbuster Inc has hired a law firm and an investment bank to explore how the video rental firm can cut its $1 billion debt load, the Wall Street Journal reported on Wednesday.</p><p>Law firm Weil, Gotshal & Manges and the bank, Arizona supermarkets</div><div><p>NCR Corp., which makes devices including ATMs, self-service checkout machines and airport ticketing kiosks, said Monday it has installed more than 100 new Blockbuster E...

Blockbuster keeps credit rating despite warning

2010-02-22T16:16:23Z

<div id="subtitle">Blockbuster keeps credit rating despite earnings warning</div><div><p>Blockbuster Inc.'s junk bonds won't be downgraded further despite the movie rental company's warning that earnings for 2009 will come in well below expectations, a credit ratings agency said Friday.</p><p>LOS ANGELES (Reuters) - Shares of Blockbuster Inc &lt;BBI.N&gt; fell sharply on Thursday, a day after the U.S. video rental chain said it had a weaker-than-expected holiday season, fueling concerns about it...

Blockbuster shares sink on poor holiday sales

2010-02-22T17:06:17Z

<div id="subtitle">Blockbuster shares sink on poor holiday sales, sign that turnaround efforts have hit a snag</div><div><p>Shares of Blockbuster took a pounding on Thursday after the company said its holiday season sales fell well below expectations, a sign that its turnaround efforts might have hit a snag.</p><p>Late Wednesday, CEO Jim Keyes said the company...

Blockbuster says holiday sales below expectations

2010-02-22T17:25:26Z

<div id="subtitle">Blockbuster warns investors its holiday season sales were worse than expected</div><div><p>Movie rental company Blockbuster Inc. expects to report a net loss in the range of $183 million to $193 million for 2009 and says that estimate is based on holiday season sales that were lower than expected.</p><p>The company's stock fell aft...

The Blockbuster Difference

2010-02-22T22:58:35Z

The DVD rental choice has boiled down to Blockbuster vs. Netflix. When looking at what solution is best for you, consider the following:<br><br>The Netflix value proposition: Netflix is the granddaddy and the originator of the DVD rental / all you can watch plan. It works like this ? when you sign up for Netflix you then have access to over 100,00...

NCR shares jump after JP Morgan upgrade

2010-02-23T17:23:39Z

<div id="subtitle">NCR shares climb after upgrade from JP Morgan predicting revenue growth</div><div><p>Shares of NCR Corp. headed higher Friday after the maker of ATMs, checkout scanners and self-serve kiosks was upgraded by a JPMorgan analyst who predicted a revenue boost from Blockbuster Inc.'s move into the DVD rental kiosk business — a challenge to rival Redbox — is getting a boost.</p><p>NCR Corp. said Thursday it has bought out DVDPlay, a privately...

NCR to install 200 Blockbuster DVD kiosks in NY

2010-02-23T22:26:11Z

<div id="subtitle">NCR to install 200 Blockbuster Express DVD kiosks in New York City pharmacy chain</div><div><p>NCR Corp. said Tuesday that it's installing Blockbuster Express DVD rental kiosks at more than 200 Duane Reade drugstores in New York City, as the...