The Show’s Over For Blockbuster
ENGLEWOOD, Colo. (KXNT/AP) — The final curtain is falling on the Blockbuster video-rental stores that Dish Network Corp. owns in the U.S.
The closures announced Wednesday will affect about 300 Blockbuster locations scattered across the country. Dish Network expects the stores to be closed by early January. Dish says about 2,800 people will lose their jobs.
Dish Network’s retreat will render Blockbuster’s once-ubiquitous brand nearly extinct. About 50 U.S. stores operating under franchise agreements will remain open.
There are 8 Blockbuster stores in the Las Vegas valley. It is unclear if any of those operate under franchise agreements, and how many jobs will be lost due to impending closures.
The Englewood, Colo. satellite-TV provider also is shutting down Blockbuster’s DVD-by-mail service next month.
Blockbuster’s downfall began more than a decade ago with the rise of Netflix Inc.’s DVD-by-mail service, followed by the introduction of a subscription service that streams video over high-speed Internet connections.
Dish Network bought Blockbuster out of bankruptcy court in 2011.
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