Blockbuster to Bring Back Late Fees, Stock Tanking
Lets see how we can sanitize this story to make it more family friendly: Blockbuster, giant video rental mega-corporation that ruthlessly charged equally giant late-fees for decades is slipping quickly into that final goodnight after not being able to compete with Netflix.
Marc Graser at Variety reports:
The Dallas-based company has been closing stores as more consumers switch to online rental services and kiosks. Blockbuster lost $435 million in the fourth quarter.
As a result, Moodys lowered Blockbuster from “Caa1” to “Caa3,” two notches into junk status.
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