Dish Network said Wednesday that it plans to fold all 300 of its remaining Blockbuster retail stores, and that it will also halt its DVD-by-mail service by early January.
Dish Network lost 78,000 net subscribers in the second quarter, and it blamed an increased churn rate on aggressive discounts from pay TV rivals coupled with its own rate increases.
Dish Network said Monday that it plans to close about 300 Blockbuster stores and cut 3,000 employees, which would leave the video rental chain with just 500 outlets nationwide.
Dish Network plans to sell mobile phones in through its Blockbuster stores, according to a report from Bloomberg.
The old cord-cutting argument has come around for another turn thanks to the ABI Research Technology barometer study that says cord-cutters--or at least consumers who dump pay TV for online video--could cost MVPDs (multichannel video programming distributors) about $16.8 billion.
Dish Network, which bought Blockbuster in April 2011, has abandoned a plan to try to re-vamp the once-bankrupt company into a Netflix competitor and distributor of Dish handsets that connect the satellite spectrum to terrestrial towers, according to Bloomberg.
Netflix believes that streaming is the way to go and it's what consumers want. The company has essentially hung its hat--and its business future--on the idea that it's successful DVD rental business is so last decade and its streaming service is so now. Unfortunately, for the video purveyor, Consumer Reports disagrees.
Dish Network (Nasdaq: DISH) said Thursday that it picked up 22,000 net new customers during the fourth quarter, after losing 111,000 subscribers during Q3. It ended the year with 13.967 million
After committing to keeping about 90 percent of Blockbuster movie rental stores open, new owner Dish Network (Nasdaq: DISH) says it plans to close additional outlets. "We are committed to keeping the
Dish Network (Nasdaq: DISH), which bought bankrupt Blockbuster in July for $320 million and used the video outlet as the basis for its streaming video service, Blockbuster @Home, says it plans to