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LA Times: Blockbuster to file for bankruptcy to aid restructure and dumping locations

Corcaigh

By Corcaigh
in The Tailgate

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Corcaigh

Corcaigh

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o Report: Blockbuster Plans Bankruptcy Filing Next Month

Dallas, Texas -- Video rental giant Blockbuster told the six major movie studios that it is preparing to file for bankruptcy next month, the Los Angeles Times reported, citing sources. The company reportedly is strapped with nearly $1 billion in debt and unwanted leases on more than 500 of its underperforming rental store locations, and has lost a total of $1.1 billion since the outset of 2008. Blockbuster, which has already shuttered more than 1,300 stores, has faced increasing competition in DVD rentals from Netflix and Redbox, as well as in the home video market from pay-TV video-on-demand and online services like iTunes.

http://latimesblogs.latimes.com/entertainmentnewsbuzz/2010/08/blockbuster-tells-hollywood-studios-its-preparing-for-midseptember-bankruptcy.html?dbk

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Henry

Henry

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I'm surprised they're still around, actually.

Well, the store right down the street from us closed last year so know it's a 20 minute drive to the nearest one. Lately, they've stopped bothering to charge us late fees or even care if we return DVDs that aren't new releases, so obviously the end was near.

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zoony

zoony

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Well, the store right down the street from us closed last year so know it's a 20 minute drive to the nearest one. Lately, they've stopped bothering to charge us late fees or even care if we return DVDs that aren't new releases, so obviously the end was near.

Several years ago I just started buying movies. Mostly off the Under $10 rack, but occassional new releases too if I've read good reviews.

I'm rarely dissapointed. I was paying $10 a movie to rent b/c I could never get them returned on time.

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Peeping Wizard

Peeping Wizard

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Too bad. I actually think the Blockbuster mail-in program is far superior to Netflix. New releases come quicker, the selection is better, we never get any damaged discs (which was a big problem with Netflix) and we have a store nearby where we can trade in the mailed discs for in-store rentals.

They are also throwing games into the mix for the mail rentals.

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War Paint

War Paint

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I really liked the Blockbuster DVD by mail program. Like Netflix, you order what you want and they mail it to you, but you could also turn in the movies received by mail at the store and exchange them for in store movies, and they mailed back the movies for you. That way you can watch the in store movies while you wait for your next queue to be mailed. I did cancel it a while back though because it got to the point that I wasn't using the service that often.

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AsburySkinsFan

AsburySkinsFan

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They've been predicting this for the last year or so. Not really surprised. Netflix, GameFly, Redbox, and OnDemand pretty much killed the need for Blockbuster.

Yep, and when Blockbuster charges as much as a pay-per-view then there is no need to leave the house to go to the store to see IF the movie you want is in, only to get charged a late fee when you leave the movie at home as you rush out the door the next morning.

Blockbuster has gone the way of the dodo bird, and if they don't evolve then buh-bai.

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PeterMP

PeterMP

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I knew this was coming but it's still disappointing. I prefer Blockbuster over mail-in businesses or vending machines, and I prefer DVDs over pay-per-view. I guess there just aren't enough of me around to keep them in business. :(

I miss going to the BlockBuster and picking out a specific movie for that night based on how you feel. You don't get that with mail orders. The other thing was going through and sometimes picking up a movie that "looked" good, but hadn't really heard of and being surprised (sometimes pleasantly sometimes not).

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AsburySkinsFan

AsburySkinsFan

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I miss going to the BlockBuster and picking out a specific movie for that night based on how you feel. You don't get that with mail orders. The other thing was going through and sometimes picking up a movie that "looked" good, but hadn't really heard of and being surprised (sometimes pleasantly sometimes not).

Pay-per-view costs the same on Directv as a Blockbuster rental, plus you save yourself the gas, and no late fees...and you can record the movie on your DVR to watch it again.

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Peeping Wizard

Peeping Wizard

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I really liked the Blockbuster DVD by mail program. Like Netflix, you order what you want and they mail it to you, but you could also turn in the movies received by mail at the store and exchange them for in store movies, and they mailed back the movies for you. That way you can watch the in store movies while you wait for your next queue to be mailed. I did cancel it a while back though because it got to the point that I wasn't using the service that often.

Exactly. I'm not really a Netflix fan but they are winning the mail order battle due to first mover advantage.

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Pick6

Pick6

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Netflix kicks ass, period. That and there are still a lot of movie/file sharing websites/torrents that are still out there that haven't been shut down by the feds.

Yeah I have to agree, at first I was so against using Netflix, but at my new place there wasn't a blockbuster close enough. Been using the mail service for the last 2 years and I would never go back. It is such a better deal, $10 a month and I watch about 5 or 6 movies a month.

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MattFancy

MattFancy

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I miss going to the BlockBuster and picking out a specific movie for that night based on how you feel. You don't get that with mail orders. The other thing was going through and sometimes picking up a movie that "looked" good, but hadn't really heard of and being surprised (sometimes pleasantly sometimes not).

You can still do that with the Netflix instant streaming. They have a ton of older movies on there.

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Peeping Wizard

Peeping Wizard

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Pay-per-view costs the same on Directv as a Blockbuster rental, plus you save yourself the gas, and no late fees...and you can record the movie on your DVR to watch it again.

True for a standard ala carte Blockbuster rental but if you do the mail in program you can trade in 5/month and get a free in store rental. It's good for new releases which Netflix and Redbox never seem to be good about stocking.

My problem with On-Demand is that the selection isn't great and it is expensive. I'm looking forward to the day when you can get an On Demand movie for $1.

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AsburySkinsFan

AsburySkinsFan

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True for a standard ala carte Blockbuster rental but if you do the mail in program you can trade in 5/month and get a free in store rental. It's good for new releases which Netflix and Redbox never seem to be good about stocking.

We used to do the Blockbuster online when it was unlimited rentals through the month, then they limited the number of videos we could order each month, and as a result we dropped them.

My problem with On-Demand is that the selection isn't great and it is expensive. I'm looking forward to the day when you can get an On Demand movie for $1.

My Directv has every new release On-Demand and if not On-Demand then at least pay-per-view with the scheduled times. But you're right, I too am longing for the $1 On-Demand.

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Botched

Botched

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Several years ago I just started buying movies. Mostly off the Under $10 rack, but occassional new releases too if I've read good reviews.

I'm rarely dissapointed. I was paying $10 a movie to rent b/c I could never get them returned on time.

I've been buying alot too. There's some pretty good stuff in the Wal Mart bargain bins.

One thing that's been bothering me about Netflix for the last year or so, is that there seems to be a tremendously long wait for almost everything. I put The Hills Run Red (it was ok) at the top of my queue a week before last Halloween, and didn't get it until April. The movie I currently have at #1 has been there for 3 weeks or so. It would be nice if they would get a few more copies of each movie.

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Corcaigh

Corcaigh

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I'm a fan of Netflix - for the speed of mailing (items are returned in less than a day to our local warehouse), the streaming, and the recommendations we get of other movies to watch.

Going to a Blockbuster store, or a Redbox kiosk, just doesn't do it for me. Maybe if I just watched a certain genre of movies (or knew what I wanted) it would work but too often I'd spend ten minutes there and leave empty handed.

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AsburySkinsFan

AsburySkinsFan

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I've been buying alot too. There's some pretty good stuff in the Wal Mart bargain bins.

Same, I all kinds of movies from the $5 and up racks, and even pick up the multi-flick packs. I also go to flea markets that have DVD booths, gotta inspect the DVDs at the register first but still, good DVDs for $3 and $4 each is pretty cool IMO.

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