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August 27, 2010 11:58:22.000

Spotted in Engadget:

It's not official, but rumor that Blockbuster is preparing to file for bankruptcy in September is certainly believable. Expected even. According to several sources speaking to the Los Angeles Times, Blockbuster chief executive Jim Keyes along with representation from Blockbuster's senior debt holders met last week with the six major movie studios to announce the company's intention to enter a mid-September bankruptcy.

Blockbuster should have pursued its own streaming deals with the studios years ago - instead, they got clobbered vy Netflix, iTunes, Hulu (et. al.). There's a lesson there for any business that is dependent on an older business model, and is being challenged by upstarts....

posted by James Robertson

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