Written by: FFT Webmaster | April 21st, 2011
You may have noticed that Blockbuster Video stores at shopping malls and on main streets have been closing with alarming regularity. One of the most powerful media companies of the 1980s that grew exponentially with the growth of the home video and dvd markets has shrunk dramatically from a chain with nearly 6000 locations across the country. Since declaring bankruptcy last September, Blockbuster has seen its stores dwindle to just over 1700. Now, with the imminent acquisition by Dish Network for $320 million, reports are circulating that the new ownership plans to close additional stores — more than 1,000 — leaving only 600 locations that will remain open. A spokesperson for Dish Network declined to comment, but the report hints that Blockbuster will remain in the movie rental business for the time being, although the move to Video On Demand and Online Streaming will eventually make the bricks-and-mortar video store as antiquated as the horse-drawn buggy.