Blockbuster LLC, formerly Blockbuster Inc., was the largest chain of rental services and video-game based in the United States.
Initially the production could be hired through stores, later through mail and finally streaming on demand and in cinemas. At its highest point in 2004, Blockbuster had more than 60,000 employees and 9,000 stores worldwide. Due to poor results and poor strategic plannings, Blockbuster lost significant revenue and filed for bankruptcy on September 23, 2010, unable to compete with the online rental companies like Netflix or Redbox. On April 6, 2011, the company and its remaining 1,700 stores around the world were bought by Dish Network, a provider of satellite television for $ 223 million in May. In July 2011, Dish closed 200 stores in June, 2012, 500 other in 2013, and 300 in August. November 6, 2013, Dish announced it would close the remaining U.S. stores in September.
To write a good research paper on Blockbuster you should know that the first video store under the name Blockbusters opened in 1985 in Dallas by David Cook. Later he sold his rights to Wayne Huizenga and John Melk, a former senior employee of Waste Management. After the brand Blockbuster Entertainment Corporation had made known throughout the country and opened a variety of new stores, they sold their rights for 8.4 billion U.S. dollars of Viacom. In 1996, the name of the company was amended in Blockbuster, Inc. and 2004 it was separated from Viacom. After heavy losses in the following years, in 2007 James W. Keyes, the former CEO of 7-Eleven, was installed as the new CEO.
Analysts at the U.S. News & World Report went early on the assumption that blockbuster 2009 could come into serious financial distress. This should be confirmed later so that Blockbuster went bankrupt in September 2010. The company Dish Network took over Blockbuster finally in April 2011.
In January 2013, the British subsidiary of Blockbuster went bankrupt. The British chain had 528 branches and there were approximately 4,200 employees in the UK.
At the most successful period Blockbuster had over 5,000 stores in the United States. Outside the U.S. Blockbuster (partly under other names) had more than 3,000 stores, including in Canada, Brazil, Great Britain, Denmark, Ireland and Australia. A special feature of Blockbuster was that in the U.S. retail stores have no adult movies to offer.
In November 2013 it was announced that the last of 300 U.S. stores should be closed in January 2014 and 2,800 employees are to be terminated. Shipments also videos and DVDs will also be ceased. However, the streaming service will be offered.
Between 1994 and 2001 the Blockbuster gave Blockbuster Entertainment Award, most recently in 37 categories. Among the winners in 2001 among others were Mel Gibson, Ben Affleck, Nicolas Cage and Gwyneth Paltrow, Julia Roberts and Helen Hunt.
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