Past performance is no guarantee of future results.
$BLOAQ NEWS: Blockbuster Is Back From the Doldrums -- Netflix Finally Has Competition Sep 27, 2011 (ET) NEW YORK, NY, Sep 27, 2011 (MARKETWIRE via COMTEX) -- The DVD streaming and mail delivery sector has become far more competitive in the last month.Price hikes and spinoffs at Netflix have set in motion a Netflix customer rebellion that Blockbuster is capitalizing on. Access to the full company reports can be found at: Blockbuster, once the leader in video rentals, had filed for bankruptcy when it couldn't counter the threat posed by Netflix, Inc., whose DVD-by-mail service and subsequent expansion into video streaming revolutionized home entertainment.At this time, the Debtors are focused on the efficient and expeditious wind down of their chapter 11 estates.Once the Debtors conclude their wind down efforts, the Debtors anticipate seeking dissolution of their corporate existence and canceling the shares of all common and preferred stock issued by the Parent. The Bedford Report has not been compensated by any of the above-mentioned publicly traded companies.
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Stockholders of a company in chapter 11 generally receive value only if all claims of the company's secured and unsecured creditors are fully satisfied.
In these cases, because the Asset Sale proceeds are significantly less than the Debtors' administrative liabilities, the Debtors anticipate that Parent stockholders will receive no value for their shares of its common and preferred stock.
The Company operates in two business segments: Domestic and International.
The Domestic segment consists of all United States store operations and by-mail subscription service operations, in addition to vending kiosks and the digital delivery of movies, through and BLOCKBUSTER On Demand.
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