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Website: http://www.blockbuster.com Blockbuster is a leading global chain offfering movies and video game rentals, with over 7,800 stores throughout the Americas, Europe, Asia, and Australia. Most stores are company-owned but some are franchised. Company-operated stores are open 365 days a year generally from 10 a.m. to midnight. Over 2,600 stores are located internationally. On November 1, 2006, the Company introduced Blockbuster Total Access, a movie rental program that gives online customers the option of exchanging their DVDs through the mail or returning them to a nearby participating Blockbuster store in exchange for free in-store movie rentals. Fees range from $9.99 per month for one DVD at a time to $17.99 for three DVDs at a time. Blockbuster reported that total revenues in 2006 decreased from $5.86 billion to $5.5 billion. The company is facing significant competition from movie-on-demand cable services and online rentals from Netflix. The company had net income of $54.7 million. It closed 526 stores in the third quarter of 2007. History Blockbuster Entertainment Corporation was incorporated in Delaware in 1982 and entered the movie rental business with the opening of its first store in October, 1985. On September 29, 1994, Viacom acquired Blockbuster. In August of 1999, Viacom took Blockbuster Inc. public with an initial public offering of approximately 18% of its stock and Blockbuster made its debut on the New York Stock Exchange as "BBI". In 1998, Blockbuster opened a state-of-the-art distribution center in McKinney, TX, just north of the company's Dallas headquarters. The 850,000 square-foot facility supports all company-operated stores in the United States. In October 2004, Viacom divested its remaining interest in Blockbuster and it is now a fully independent company. Benefits - Free Video & Games Rentals &
discounts on merchandise Updated December 4, 2007 |