Blockbuster's time on death row is nearly up
Blockbuster has, in my opinion, been on death row for some time now. Opinion is one thing, but we haven't seen any facts supporting my opinion...up until this week. In a Securities and Exchange Commission filing this week, Blockbuster revealed that a credit extension granted a couple of weeks ago may not work out after all. The lenders may not fund the loan unless Blockbuster meets conditions it may not be able to. If it can't, Blockbuster said there is "substantial doubt" about its business future.
Blockbuster has spent the last year playing catch-up to rivals like Netflix, iTunes, and Amazon Video on Demand. But it's too little to late I think.
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Posted by Justin Davey at April 7, 2009 7:42 PM