After filing for Bankruptcy back in September Blockbuster had been trying desperately to fight off Netflix and Redbox. They figured if you can’t beat them, join them. Blockbuster on Demand and Blockbuster Express were born. The thing is they were way too late to the party. Blockbuster is this a reminder of the past. Sorry, truth hurts.
So it looks like the only left to do is sell it off. Bids for the company are starting at $290 million. CEO Jim said that this will “allow for the consolidation of ownership of the company to those with a clear and focused vision for Blockbuster’s future.” Well clearly no one there had one.