Although it will remain alive in name but not much as a store presence, The New York Times reports that Blockbusters will be closing its remaining 300 locations. Netflix has won.
Dish, which acquired Blockbuster through a bankruptcy auction in 2011, after the retailer had already been decimated by digital video distributors like Netflix, said it still sees value in the brand name and will use it in limited ways.
But it will close all Blockbuster locations it says there are about 300 left and the distribution centers that support a DVD-by-mail service. Dish declined to say how many employees would be laid off, but previous cutbacks by the company have affected thousands of workers. The remaining locations have, on average, 10 employees or fewer each.
The announcement amounted to a surrender: a statement that Netflix, symbolized by its little red envelopes and more recently its streaming service, had prevailed over the little blue boxes that Blockbuster VHS tapes and DVDs came in.
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