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  #1  
Unread August 9th, 2010, 02:25 AM
DoctorDan DoctorDan is offline
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August 07, 2010 | Permalink | Comments (20) | TrackBack (0)
Bloomberg: Blockbuster Gets Temporary Reprieve; Bankruptcy in September?
Bloomberg reports that Blockbuster will probably get a one-month reprieve from creditors so it can file for bankruptcy in September:

Lenders are pushing for a pre-packaged bankruptcy in exchange for the 30-day extension on debt repayment, said the people, who declined to be identified because the negotiations are private. Blockbuster is reaching out to companies about buying assets in or out of bankruptcy, one of the people said.

“We’ve been transparent throughout this process about the potential sales or licensing of certain international operating assets,” Patricia Sullivan, a Blockbuster spokeswoman, said in an e-mail. “These discussions are ongoing.” She said the company continues to engage with lenders in “productive talks.”

I can remember when small video stores went out of business when they heard Blockbuster was coming to town.
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  #2  
Unread August 9th, 2010, 06:08 AM
panamamike panamamike is offline
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Originally Posted by DoctorDan View Post
August 07, 2010 | Permalink | Comments (20) | TrackBack (0)
Bloomberg: Blockbuster Gets Temporary Reprieve; Bankruptcy in September?
Bloomberg reports that Blockbuster will probably get a one-month reprieve from creditors so it can file for bankruptcy in September:

Lenders are pushing for a pre-packaged bankruptcy in exchange for the 30-day extension on debt repayment, said the people, who declined to be identified because the negotiations are private. Blockbuster is reaching out to companies about buying assets in or out of bankruptcy, one of the people said.

“We’ve been transparent throughout this process about the potential sales or licensing of certain international operating assets,” Patricia Sullivan, a Blockbuster spokeswoman, said in an e-mail. “These discussions are ongoing.” She said the company continues to engage with lenders in “productive talks.”

I can remember when small video stores went out of business when they heard Blockbuster was coming to town.
Dr. Dan, did you make changes to the story or was this just an old version. Some of the wording in your post doesn't match what I found on Bloomberg.
Granted, it doesn't look good, but it's not final.
Here's the direct link

Also, check out the new Comcast deal Makes you wonder why these deals are coming in when blockbuster is on it's death bed.

Mike
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Hot Head (August 9th, 2010)
  #3  
Unread August 9th, 2010, 02:16 PM
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Damien Oujia Damien Oujia is offline
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I just hope some of the small video stores can make a return. I don't think it's dire in every city and every market, regardless of On Demand and other ways to watch movies digitally. Some of our BBV stores actually make money in the areas they are in, it's just the morons who run the company that squander those profits away.
  #4  
Unread August 9th, 2010, 02:40 PM
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remember, half of all america doesn't have internet, let alone an operating computer. of all those people how many of them are up to renting a movie occasionally. i don't know....

as i'm writing this reply with the intent of saying positive things and rooting for small business video stores, i need to stop and say the word REDBOX is shouting in my head and that can't be ignored.

the less rich people of america will definitely go to a redbox over the small business for cheaper rentals.

i want to believe otherwise. speaking of which when is redbox gonna get completely strangled by the production companies and forced to raise prices and stuff?
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Unread August 9th, 2010, 04:30 PM
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Please see this thread Dan:

http://www.ihateblockbuster.com/foru...ad.php?t=10549

Thank you.
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  #6  
Unread August 9th, 2010, 05:54 PM
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There is a lot of pressure on Redbox to get their prices raised. Studios are NOT happy about a dollar per day rentals.
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Unread August 9th, 2010, 05:56 PM
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Originally Posted by Damien Oujia View Post
There is a lot of pressure on Redbox to get their prices raised. Studios are NOT happy about a dollar per day rentals.
I think that the actors get payed to much anyways. This is the the reality for those actors that are payed waaaaay to much.
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  #8  
Unread August 9th, 2010, 10:24 PM
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I think that the actors get payed to much anyways. This is the the reality for those actors that are payed waaaaay to much.
i totally agree.

though then again, i feel the same way about professional sports players, lawyers, politicians, designers...
  #9  
Unread August 10th, 2010, 04:33 AM
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i totally agree.

though then again, i feel the same way about professional sports players, lawyers, politicians, designers...
...certain nameless CEO's...
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  #10  
Unread August 10th, 2010, 06:39 AM
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Originally Posted by wheresmikey View Post
remember, half of all america doesn't have internet, let alone an operating computer. of all those people how many of them are up to renting a movie occasionally. i don't know....

as i'm writing this reply with the intent of saying positive things and rooting for small business video stores, i need to stop and say the word REDBOX is shouting in my head and that can't be ignored.

the less rich people of america will definitely go to a redbox over the small business for cheaper rentals.

i want to believe otherwise. speaking of which when is redbox gonna get completely strangled by the production companies and forced to raise prices and stuff?
I know of several mom and pops that have adopted the $1 a day formula. If you think about it, it works out ok for them. I myself am $2 for the first day for new releases, $1 a day after that. Catalog (18,000 titles) is $2 for a week. We can compete.
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