Blockbuster nears bankruptcy

The real life, go get a movie from a building, don't have it mailed to your house or just watch it through online streaming or download, video rental company is sinking fast. They're expected to declare bankruptcy this week, according to the Wall Street Journal. This will mean an additional 500-800 store closures on top of the 1000 already announced (and the ones that have already closed).

Blockbuster had 6500 stores as of January 3, 2010 so it should be a fraction of that soon. In my family, we used to go to Blockbuster every Friday for a movie for the kids but since getting Netflix instant viewing, we haven't gone near a Blockbuster.

Meanwhile, Netflix, cackling with glee over the dying body of Blockbuster, launched a Watch Instantly service in Canada today.

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John Moe is the host of Marketplace Tech Report, where he provides an insightful overview of the latest tech news.


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