Frankly, the app is a bit overdue. Over the years, Blockbuster has been on the decline, due to the failure to adapt to a changing world, where streaming movies was becoming more popular than physically renting them. The company released mobile apps, but they didn’t include any streaming component, until now.

The iOS version of the app is similar to the Android version, and unlike Netflix, where you pay a monthly fee for unlimited streaming, Blockbuster On Demand has you paying on a per-movie basis. The benefit, though, is that you get access to a lot of movies that you don’t have access to on Netflix, which is a service that has been lacking a good movie selection for some time now.

Plus, the Blockbuster On Demand app streams movies in high definition with support for surround sound, which would seem a bit overkill if you were to watch films on your smartphone, but you could easily hook up your ipad to a stereo system to boost the sound level a bit, given that any speaker will provide better quality than the built-in speaker on the iPad or iPhone.

Dish Network announced this week that it would be closing 160 Blockbuster locations in the UK as the company entered administration. Dish Network is also closing an additional 300 Blockbuster stores within the United States in the coming weeks. Dish Network spokesman John Hall announced on Monday that the store closures would result in 3000 employees losing their jobs.

Dish says that the stores being closed are locations that are underperforming or those nearing the end of their lease. Of the stores being closed, 26 are located in Colorado. Hall said that Dish Network will continue to analyze store-level profitability. That likely means more store closures are coming.

Hall also stated that the location of the stores that will be closing in the coming weeks haven’t been announced. However, the employees who will be losing their positions have been informed. Those workers were told of their fate on Friday. Dish says that the store closures will happen over “a period of time” as many leases are ending.

[via Denver Post]

160 stores out of 528 doesn’t seem too bad, especially for a company that has been struggling as much as Blockbuster in recent years. It could definitely be worse, but this announcement doesn’t necessarily mean that the other 368 stores are out of the woods. Deloitte says that more closures may come by the time everything is said and done, so many employees are still bracing for the worst this morning.

The ultimate goal here is to turn Blockbuster UK into an attractive deal for potential buyers, and that’s obviously done by shutting down stores that aren’t making a profit as a means of saving money. Deloitte certainly has its work cut out for it, as Blockbuster – once the king of movie and game rentals – has been losing a lot of ground to digital retailers and streaming services like Netflix.

There doesn’t seem to be any word on which stores across the UK will be shutting down, but Deloitte will probably be ready to share that information soon. When Blockbuster announced that it was going into administration last week, it said that it would continue trading as usual, meaning that for the time being, nothing about Blockbuster’s business will be changing from a consumer perspective. Keep it here at SlashGear and we’ll keep you updated on Blockbuster UK’s bout with bankruptcy.

[via GamesIndustry International]

Deloitte has be named administrator for Blockbuster after becoming the administrator for struggling UK media retailer HMV just a few days ago. Deloitte’s task is now to make Blockbuster’s UK arm more attractive to potential buyers, with the ultimate goal of finding a purchaser for the embattled company. In a statement made to Eurogamer, Deloitte administrator Lee Manning cited increased competiton as a reason for Blockbuster’s decline.

“In recent years Blockbuster has faced increased competition from internet-based providers along with the shift to digital streaming of movies and games,” Manning said. He continued by pointing out that Blockbuster will still “trade as normal in both retail and rental,” and that the chain will still accept gift cards and trade-in credit toward purchases. So, for the moment at least, Blockbuster will continue business as usual, but it’s unknown how long that’s going to last.

Manning said the core of Blockbuster’s business is still profitable, which is both good news and bad news. It’s good news because that means it’s possible Deloitte will be able to trim down the business and ultimately secure a purchase, but bad news since administrators will likely need to shut down a large number of stores to get Blockbuster to the point where it looks like a good deal. We’ll be watching Blockbuster UK closely over the coming days and weeks, so keep it here at SlashGear for more.

[via Eurogamer]

Blockbuster has announced a new Android app is available to allow movie fans to search for title availability at local Blockbuster rental stores. The app also allows Android users to browse movie and game titles as well as manage their Blockbuster By Mail account. I wonder how accurate in-store availability will be with this app.

The Blockbuster Android app is designed to work with Android Gingerbread and later and is available for download at no cost on the Google Play and Amazon app stores right now. The app also allows users to search movie and game titles for synopsis, list of actors, available formats, and more. Films can also be sorted by title, actor, and genre.

The app also allows users to add, remove, and organize their mail order queue. The app can also act as your in-store membership card eliminating the need for a physical card to rent movies. Other features include a service to find your local Blockbuster store and users can navigate in English or Spanish. Blockbuster plans to update its iOS app later this quarter.

Currently, you can pull up a host of devices on Blockbuster’s website, with each device listening its key features and a link to its carrier’s website. A notice says under the devices, “Activate your device and get discounts worth more than $25!” There’s no word on what phones Blockbuster will sell at its retail locations or when it will start.

Blockbuster, maimed due to the rise of Netflix, was acquired by Dish a few years ago. Soon after taking over the company, Dish closed hundreds of Blockbuster stores, taking the total count from about 1700 to 850. This represents only a small fraction of the empire that used to be Blockbuster, which, eight years ago, offered approximately 9000 brick-and-mortar stores.

In an effort to stay above water, Blockbuster began offering an online DVD rental program similar to Netflix. It is now a base where Dish hocks its satellite TV subscriptions, and, presumably, where it will advertise its planned wireless service alongside the phones it will begin selling. The company’s chairman Charlie Ergen revealed in October that Dish plans to use Blockbuster to sell phones and unveil its wireless service, which is currently on hold pending instructions from the FCC.

[via Bloomberg]

The company ended up selling a lot of its Blockbuster retail locations, which will easily save the company money and even turn start turning a profit. However, around 900 Blockbuster stores will remain open in rural areas where streaming media over the internet isn’t prominent. Of course, that’s still almost half the number of Blockbuster stores that were once sprouted all over the country.

The mobile devices that Dish was planning on selling in Blockbuster stores didn’t end up going into effect mostly because U.S. regulators didn’t approve a waiver that would allow the company to use its satellite spectrum for streaming movies. Apparently, that was all it took for Dish to give up and scrap plans for the project.

Dish customers already have access to a Blockbuster online streaming service where they have access to more than 100,000 movies and TV episodes. They can also get DVDs by mail at a rate of one disc out at a time. The service only costs $10 per month, which is considerably cheaper than what Netflix offers. However, in order to really compete with Netflix, the company had to get into the mobile game, which they’ve been obviously struggling with. Dish still plans to shake things up with its Blockbuster service, but we’re not told what those plans are exactly.

[via Bloomberg]

Nintendo’s first party efforts are surprisingly sparse, with a new Pikmin sequel and the aforementioned Mario game making up the only items. That Super Smash Bros. sequel looks to be quite a way out. UbiSoft is here in force, with entries in franchises like Splinter Cell,  Ghost Recon, Assassin’s Creed, and no less than three entries in the Rayman universe: Rayman Legends, Rabbids Party Land and another Raving Rabbids game. Here’s the full list of titles discovered:

• Aliens: Colonial Marines
• Assassin’s Creed
• Batman: Arkham City
• Darksiders II
• Dirt 3
• Formula 1 All Stars
• Game Party
• Ghost Recon Online
• Just Dance 4
• Killer Freaks from Outer Space
• Marvel Super Heroes
• Metro: Last Light
• Monsters Party
• New Super Mario Brothers Wii
• Ninja Gaiden 3
• Pikmin
• Rabbids Party Land
• Raving Rabbids
• Rayman Legends
• Shield Pose
• Splinter Cell 5
• Sports Connection
• Tekken
• Your Shape 2013
• Zombie

Consider them all rumor at this point – with the Wii U expected to debut in December, there’s no reason to think that a retailer like Blockbuster would be especially likely to have a comprehensive list of launch games right now. With the development cycles of even quite ordinary games being prone to all manner of delays, there’s no telling exactly what will be sitting on shelves next to the Wii U later this year. Nintendo and its publishing partners will be showing off their latest and greatest at E3 next month, so keep an eye out for more solid news then.

[via Cnet]

Customers who sign up for Dish get three free months of Blockbuster’s online system, which gives them access to more than 100,000 movies and TV episodes, in addition to DVDs by mail at a rate of one disc at a time. Even after the three months, the service only costs $10 per month and it’s conveniently added to customers’ Dish Network bills. That’s much cheaper than a comparable offering from Netflix.

Of course, when you talk about Blockbuster you need to talk about those few proud stores that are still standing. A third of those will be gone soon, as soon as their respective leases run up. But if you just look at that as an area of impending death, Blockbuster is still adding overall value to Dish. The satcaster went two years without adding to its subscriber base, so an increase of 22,000 customers proves something is working. Those quarterly numbers beat analyst expectations.

[via VentureBeat]

Pricing for Samsung’s Blockbuster On Demand deal hasn’t been confirmed, but it will presumably fall into line with current purchase and rental offerings. Rentals are priced from $1.99 for a 24 hour period of access, while purchases also start at $1.99 but are continuously accessible from Blockbuster’s servers.

Also unclear is how the system will handle multiple devices. Purchased content will presumably be accessible no matter which Samsung hardware you’re using – as long as they’re all registered to the same account – so that you can start a film on your TV and then pick up playback on your smartphone instead. We’re guessing the same will be true for rented content.

The news follows word that Blockbuster On Demand has been yanked from TiVo, with the streaming content company claiming that it is “updating” its technology platform into a form that is incompatible with TiVo DVRs.

Apparently, the video-on-demand app from Blockbuster is still available on different TiVo models as of now, but the registration page is no longer available on Blockbuster.com. While TiVo is losing Blockbuster support, fans of streaming media do have a couple of things to look forward to on their TiVo DVRs this year. An updated Netflix app is coming for one.

An updated YouTube app is also coming with both of those app updates set for later this year. TiVo is also tipped to be opening a new SDK soon that could result in new apps for TiVo users. Does losing Blockbuster On Demand support make TiVo less attractive to you?

We have some good news and some bad news. The bad news is that, as of 3/31/12, the Blockbuster app will no longer be available on your TiVo DVR. We are updating our technology platform and will not be able to continue supporting your device. You won’t be able to watch movies from Blockbuster On Demand on your device, but you can still watch on any of our other devices or stream via PC or Mac.

[via Zatznotfunny]

The deal will cost $100 million and will take the kiosk operations away from NCR, more known for ATMs at banks than movie rentals. NCR had previously posted $13 million operating loss, but it’s not clear if that was directly related to losses on its movie rental kiosks or not. The transaction is expected to close in Q3 of 2012.

This has some interesting ramifications in the movie rental industry. Redbox recently refused to sign an agreement with Warner Bros. that would have delayed the rental titles coming to the kiosk locations by 56 days rather than the current 28 days. By refusing to sign the agreement, Redbox will be forced to spend more to purchase the DVDs it places in its kiosks, but it will not have to hold to any delay in offering titles for rent.

“The acquisition includes the purchase of the DVD kiosks, certain retailer contracts, and DVD inventory,” Redbox said in a statement. “In connection with the asset purchase, Coinstar and NCR also will enter into a strategic supplier arrangement where Coinstar will purchase product and services from NCR.”

[via CNET]

The announcement came during this week’s quarterly earnings conference call. The call had an ultimately positive vibe to it, as Netflix managed to gain back 600,000 of the 800,000 subscribers it lost in the previous quarter. The quarter in question was the first time the online company saw a dip in its user base.

The last time Netflix entertained the idea of adding video games to its mix was in October, when CEO Reed Hastings was quoted as saying there were still internal discussions about its viability. But the truth is Gamefly has a very strong stranglehold on that market, and there is already competition from Blockbuster Online, as well as Redbox kiosks. For streaming content, which is the direction Netflix is clearly heading, there’s OnLive, and there’s no way Netflix would invest in the resources necessary to compete in that nascent market. So for now, your remote lives with Netflix and your joystick lives with Gamefly. Those streams will not cross any time soon.

[via USA Today]

Not too long ago Warner Brothers decided that the key to more revenue was to not allow video rental services like Blockbuster and Netflix to access its films for rentals until 56 days after the videos have been on sale in stores. Apparently, even that wasn’t enough to make Warner Bros. feel content with their movie fiefdom.

Warner has now come back and decided that blocking rentals for 56-days isn’t enough. The studio will also be blocking Netflix user’s from adding the movie to their rental queue for 28 days after the movie goes on sale in stores. Adding the movies to the queue is a way for Netflix users to help ensure the movie comes to them as soon as it is available for rental, it doesn’t get the movie before that 56-day douchebag blockade that Warner has already implemented. Warner seems intent on making it hard on people that want to watch the movies it makes for some reason.

[via Venturebeat]

The move is no surprise, if the stories a money loser it has to go. Dish has said that is committed to keeping moneymaking stores open. Dish CEO Joe Clayton was mum on just how many of the Blockbuster stores were losing money and would be closed. He also offered no timeframe for the closings.

Interestingly, Clayton said that the Blockbuster locations that stay open will sell Dish Network service and could even provide support for TV customers in the area. That would be an interesting change; you could rent a movie and buy satellite service or get questions about the guide fixed.

[via Reuters]

It used to be that if you wanted to rent a movie from Warner and many of the other major studios, you might have to wait as long as a month before you could get your hands on it. There was a 28-day delay between the launch of the film on DVD, and it coming to kiosks. Warner has made a new deal with Netflix, Redbox, and Blockbuster that will double that delay to 56 days.

The longer delay is all in the name of propping up sagging DVD sales. The sad part is you can bet since the three movie rental/streaming firms accepted the deal other studios will follow suit. After 56 days, I’m not going to rent a movie that I haven’t seen, it’s off my radar completely and the only flicks I buy are kid’s movies that my kids will watch repeatedly. I for one sincerely hope that Warner Brothers sees the profits fall even more. If it wants to spur DVD sales, make your movies cheaper and put them on the market faster, not slower for rentals. They don’t seem to understand that renting or streaming is the only way many of us watch their films.

[via AllThingsD]

So, when Dish acquired Blockbuster earlier this year, I thought it might be a good thing for the formerly dominant rental firm. I thought that Dish could find a way to revive Blockbuster’s ailing business model, and return it to a place where it would no longer be viewed as a joke.

But on Friday, after Dish announced its Blockbuster Movie Pass, it quickly became clear to me that no matter which company owns the firm, Blockbuster will always be a joke.

If you haven’t heard about Blockbuster movie pass just yet, the service will allow customers to receive discs by mail, stream content to TVs and PCs, and watch on-demand movie channels for $10 per month. However, there is one catch: the service is available only to Dish customers.

It’s that list tidbit that I find so, well, funny. Dish is trying to use Blockbuster (of all companies) to try and build its own customer base. And in the meantime, it’s shutting itself off from capitalizing on Netflix’s increasingly disappointed user base.

The trouble at Netflix started over the summer when the company announced that it would start charging customers $7.99 per month to stream content, and another $7.99 per month to rent DVDs by mail. After facing outcry, Netflix CEO Reed Hastings apologized this past week, and announced that he had spun off the company’s DVD-by-mail business into a new firm, called Qwikster.

But even receiving that apology, Netflix customers aren’t all that happy. They’ll still need to pay the same sum for the content, just to two different companies. It was, at best, an empty apology.

With Blockbuster Movie Pass, Dish could have had the opportunity to coax those customers into leaving Netflix and joining its service. It could have very well been Blockbuster’s ticket back to the top.

And yet, Dish failed to see that. Instead of being the next Netflix — something that many firms would like to be — it wants to see its satellite TV business grow.

Am I missing something here?

Blockbuster’s story over the last several years has been nothing short of laughable. It’s a story marked by poor management and missed opportunities. And with Dish, things aren’t getting any better.

So, as we look at the next chapter in Blockbuster’s story, I can’t help but wonder what might have been.

For Blockbuster, it’s another day, and another missed opportunity.

[Image credit: Associated Press]

Blockbuster Movie Pass will allow subscribers to access Blockbuster’s broader catalog of 10,000 movies via internet streaming, including content from Starz and other providers that have snubbed Netflix. Movie rentals can be returned via mail or to a local Blockbuster store and Blu-ray movies aren’t charged at a premium like they are by Netflix.

Despite some of the advantages, the Blockbuster Movie Pass may not hurt Netflix more than Netflix’s own detrimental decision to conceive Qwikster because the service is only available to Dish Network subscribers. These folks must pay an additional $10 per month on top of their Dish subscription to get the new service. This pretty much defeats the purpose of why a lot of people choose streaming—to cut ties from a cable subscription.

[via TNW]

Apple:
Apple’s New MacBook Airs To Launch Late Next Week
Apple’s Revamped LED Cinema Displays With Thunderbolt Coming Soon
Apple iOS 4.3.4 Released, PDF Vulnerability Fixed
ITC Finds HTC Infringes On Two Apple Patents

Google:
Android patent situation not critical insists Google CEO
Google+ Has Over 10 Million Users, 1 Billion Items Shared Per Day, Says CEO Larry Page
Google Activates 550,000 Android Devices Daily, Reaches 250,000 Android Market Apps
Google+ Corporate Accounts Testing To Launch Next Week
Google Games discovered in Google+ code
Android Market Files Hint At Google Music Store

Spotify:
Spotify US goes live
SlashGear 101: What is Spotify?
SlashGear Free Spotify Invite Giveaway

Microsoft:
Microsoft Reveals New Windows Phone 7 Mango Handsets From Samsung, Acer, And More
Fujitsu Windows Phone could be tweaked 12MP Android handset
Microsoft To Ship Windows Phone Mango Devices By September?

Netflix:
Netflix Announces Price Hike, Splits DVD And Streaming Plans
Is this the chance Netflix rivals have been waiting for?
Netflix lands on Nintendo 3DS today
Blockbuster Attempts Neftlix Customer Thievery in Wake of Price Hikes

Reviews:
Android Market 3.0.26 Hands-On and Review
Spotify Premium Mobile App and Service Review [USA]
Swiftkey X Review for Android Handsets
SwiftKey Tablet X Review
T-Mobile myTouch 4G Slide Review
iRiver Story HD Review

What’s going on here is that, in the wake of Netflix raising their prices [like so], and you’ve just got to wonder – did they follow Don Reisinger’s advice? It’s the best possible idea, when you think about it, taking advantage of the massive group of people who may, with no other alternative realistically in sight, just start paying more for the same service they were already paying for in Netflix. But lo! Let us take a look at this deal.

The deals you’re about to see competing are thus: Blockbuster Total Advantage will run you $9.99 for the single-disk deal per month. This includes in-store exchanges, games for Xbox PS3, and Wii, Blu-Ray disks, and all new releases are available to you immediately. Netflix, starting on the first of September, will have a similar $9.99 deal, this one with no in-store exchanges (because it’s through the mail instead,) no video games, Blu-Ray disks, and an up to 28 day release delay for some movies from multiple studios.

And the deal, again, is that Blockbuster is offering this service for free for a month to folks who can prove they’re coming straight from Netflix. Hotness!

Now my question for you is thus: do you even have a Blockbuster around where you live? All the Blockbusters closed here in Minneapolis, never to be seen again. Good luck to you!

There’s also on-demand media streaming support, including Netflix, Blockbuster, VUDU and Film Fresh, in up to HD quality, and Onkyo has used Marvell’s Qdeo processor for 1080p upscaling, deinterlacing and noise reduction. Ports include two HDMI outputs, so as to make hooking up – and flicking between – an HDTV and a projector more straightforward.

DTS-HD Master Audio and Dolby TrueHD, along with THX certification, round out the key specs, though as you’d probably imagine there are plenty of other ports on the back including digital and analog audio outputs.

And what would you pay for this rich, creamy, uncommonly good Blu-ray player (disclaimer: we haven’t actually tried it; it could be rubbish)? Onkyo will be asking $599 when the BD-SP809 lands in August.

Blockbuster is lowering prices to appeal to users that have been renting elsewhere. As of May 27, the price of “thousands” of in-store movie rentals dropped to 99 cents per day. The price on new releases was also reduced. The new price is $1.99 for the first day and then 99 cents per additional day. The price of just released films will be $2.99 for day one and then 99 cents daily after.

Blockbuster is also offering a new unlimited movie rental plan that will run through July 4. With this plan, the user can come in, rent a $2.99 movie at the store, and then get another movie at $1.99 or less for the first day at no charge. When they return the free rental they can return to the store an unlimited number of times to get more free rentals. In theory, you could watch as many movies per day at $1.99 as you like, one flick at a time, until July 4.

At the time, one of the reasons that Dish Network won the bid was that it planned to keep the chain running. Dish plans to continue to operate about 600 of the Blockbuster stores around the country. That means that 1000 of the stores running right now will be closed. Blockbuster had already cut the number of stores to 1726.

The store closings are all around the country, including some in Dallas where the company is based. Apparently Dish hasn’t yet assumed the lease for the corporate HQ of Blockbuster in downtown Dallas or the distribution center measuring a massive 850,000 square feet in McKinney. The purchase of Blockbuster cost Dish Network $320 million.

[via Finantil.tmcnet.com]

Still, with Blockbuster’s physical rental model on shaky ground, it remains to be seen how much DISH Network can salvage. Back in September 2010 there were around 3,000 Blockbuster stores open across the US, though the company planned to axe 500-800 of them; that total has now obviously dropped by almost half, under continuing pressure from IPTV streaming providers like Netflix, iTunes and Amazon.

The acquisition is expected to be finalized sometime this quarter, assuming the bankruptcy court approves.

Press Release:

DISH Network Agrees to Acquire Blockbuster Assets

ENGLEWOOD, Colo., April 6, 2011 /PRNewswire/ — DISH Network Corporation (NASDAQ: DISH) announced that it was selected as the winning bidder in the bankruptcy court auction for substantially all of the assets of Blockbuster, Inc. DISH Network’s winning bid was valued at approximately $320 million. After certain adjustments are made at closing of the transaction, including adjustments for available cash and inventory, DISH Network expects to pay approximately $228 million in cash to acquire Blockbuster at the closing which is expected to occur in the second quarter of 2011.

“With its more than 1,700 store locations, a highly recognizable brand and multiple methods of delivery, Blockbuster will complement our existing video offerings while presenting cross-marketing and service extension opportunities for DISH Network,” said Tom Cullen, executive vice president of Sales, Marketing and Programming for DISH Network. “While Blockbuster’s business faces significant challenges, we look forward to working with its employees to re-establish Blockbuster’s brand as a leader in video entertainment.”

Completion of the transaction is contingent upon satisfaction of certain conditions, including bankruptcy court approval.

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995:

Except for historical information contained herein, the matters set forth in this press release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in DISH Network Corporation’s Disclosure Regarding Forward-Looking Statements included in its recent filings with the Securities and Exchange Commission, including its annual report on Form 10-K. The forward-looking statements speak only as of the date made, and DISH Network Corporation expressly disclaims any obligation to update these forward-looking statements.

About DISH Network

DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides more than 14.1 million satellite TV customers, as of Dec. 31, 2010, with the highest quality programming and technology with the most choices at the best value, including HD Free for Life. Subscribers enjoy industry-leading customer satisfaction, the largest high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.

Sonic Solutions is a known company for their ability to distribute paid content, whether it be movies or single episodes of a television show, courtesy of their proven infrastructure, to a wide variety of devices. While Rovi is known for their electronic program guides, and content metadata. Earlier in the year, Sonic Solutions acquired DivX, which let the company reach even more devices, courtesy of the popular video format.

With Sonic Solution’s RoxioNow, consumers are able to buy premium content from digital storefronts, which are run by companies like Blockbuster, and Best Buy. All of the details of the proposed purchase aren’t known quite yet, but with Rovi Corp. projected to finish the whole process some time in the first quarter of 2011, we won’t have to wait too long to see what these two companies have planned.

[via PaidContent / Investors]

Due to the support for Blockbuster On-Demand, owners will now be able to rent or buy movies at the same time they would be able to buy or rent Blu-ray or DVDs via Blockbuster On-Demand in the US. As it stands, it looks like only the WD TV Live Plus set-top boxes will be able to access the Blockbuster On-Demand content.

However, if you have yourself the WD TV Live set-top box, you’ll be able to freely enjoy your Facebook account, without any issues. The same goes for other features, like on-demand music service Deezer, and weather information courtesy of AccuWeather.com. What’s better though, is that the WD TV Live set-top boxes will now support Bluetooth keyboards, as long as you have a Bluetooth dongle to connect to it. So, if you were accessing the WD TV Live Hub to reach AccuWeather.com and Facebook, you should be happy that the extra step is no longer necessary.

[via Electronista]

Meanwhile the company has secured a new $125m of new financing to tide it over while it restructures.  The target, it claims, is to reduce indebtedness to $100m or less; unfortunately that’s not to the benefit of current debtors.  According to the press release, “under the proposed plan, there would be no recovery by the holders of the Company’s outstanding subordinated debt, preferred stock or common stock.”

Blockbuster has been under increasing competition from streaming media services and under-performing retail locations, and is likely to focus more on digital delivery and cheaper kiosk rental systems for their onward strategy.  Stores outside of the US will be unaffected by the Chapter 11 proceedings, though the company’s Argentina arm will no longer receive financial support.

Press Release:

Blockbuster Reaches Agreement on Plan to Recapitalize Balance Sheet and Substantially Reduce its Indebtedness

To Implement Recapitalization, Company Initiates “Pre-Arranged” Chapter 11 Proceedings
Blockbuster Stores and Operations Conducting Business in the Ordinary Course
Secures $125 Million DIP Financing Commitment

Blockbuster Inc. (Pink Sheets: BLOKA, BLOKB), a leading global provider of rental and retail movie and game entertainment, today announced that it has reached agreement with a group of bondholders holding approximately 80.1 percent principal amount of the Company’s 11 3/4 percent senior secured notes (the “Senior Noteholders”) on the material terms of a plan to recapitalize its balance sheet and put the Company in a stronger financial position as it continues to pursue its strategic plan and transform its business model. The recapitalization plan would substantially reduce the Company’s indebtedness — from nearly $1 billion currently to an estimated $100 million or less when implemented.

To implement this “pre-arranged” recapitalization, the Company and its domestic subsidiaries have filed voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for the Southern District of New York. Blockbuster’s non-U.S. operations and its domestic and international franchisees, all of which are legally separate entities, were not included in the filings and are not parties to the Chapter 11 proceedings.

All of Blockbuster’s U.S. operations, including its stores, DVD vending kiosks, by-mail and digital businesses, are open and serving customers in the normal course. Blockbuster is fulfilling all orders as usual, including continuing to provide access to new releases the first day they become available. Blockbuster intends to continue honoring its Rewards program, valid coupons, gift cards and other customer programs.

Blockbuster franchise locations in both the U.S. and abroad are independently owned, operated and funded, and are also continuing normal business operations. In addition, BLOCKBUSTER Express vending kiosks, owned and operated through a relationship with NCR, continue their operations in retail locations around the U.S. The Company’s international operations in Canada, Denmark, Italy, Mexico, and the United Kingdom are also conducting business as usual. However, Blockbuster will no longer provide funding to support its operations in Argentina, which have experienced continued shortfalls in operating cash flow.

Jim Keyes, Chairman and Chief Executive Officer, commented, “After a careful and thorough analysis, we determined that the process announced today provides the optimal path for recapitalizing our balance sheet and positioning Blockbuster for the future as we continue to transform our business model to meet the evolving preferences of our customers. The recapitalized Blockbuster will move forward better able to leverage its strong strategic position, including a well-established brand name, an exceptional library of more than 125,000 titles, and our position as the only operator that provides access across multiple delivery channels – stores, kiosks, by-mail and digital. This variety of delivery channels provides unrivaled convenience, service, and value for our customers.”

The Company has secured a commitment of $125 million in new “debtor-in-possession” (DIP) financing from the Senior Noteholders to help meet its obligations to customers, suppliers and employees in the ordinary course during the recapitalization process.

As part of the recapitalization process, the Company will evaluate its U.S. store portfolio with a view towards enhancing the overall profitability of its store operations. Currently, all 3,000 of the Company’s stores in the U.S. will remain open.

Under the terms of the proposed plan of reorganization, the Company’s 11 3/4 percent senior secured notes will be exchanged for the equity of a reorganized Blockbuster. The only debt expected to remain on the Company’s balance sheet upon its emergence from Chapter 11 under the proposed plan will be the amounts drawn under Blockbuster’s $125 million DIP financing, which will convert to an exit loan facility upon consummation of the plan, and a new exit revolving credit facility of up to $50 million. Under the proposed plan, there would be no recovery by the holders of the Company’s outstanding subordinated debt, preferred stock or common stock.

Keyes said, “We are pleased to enter this process with the support of the Senior Noteholders. Their willingness to provide the DIP financing and to support a plan to eliminate a substantial amount of the Company’s debt in exchange for new equity is an important vote of confidence in Blockbuster.”

Additional information about the recapitalization is available at www.Blockbuster.com/recapitalization or by telephone at 877-660-6684 or 732-645-4110. General information for Blockbuster customers is available at www.Blockbuster.com or by calling 1-866-692-2789.

The Company’s legal advisor is Weil, Gotshal & Manges, its financial advisor is Rothschild Inc., and its restructuring advisor is Alvarez & Marsal.

Blockbuster currently has around $900m in debt, and is believed to be using the bankruptcy as an opportunity to prematurely break leases on unprofitable retail locations.  According to Bizjournals, the retailer failed – or was unable – to make a payment on its debt obligation, the second time in a three month period.  The company’s CFO resigned in July.

Their fear – or at least one of them – is that the studios will cut of the supply of new DVD content during the process, thus undermining their attempt to claw back financial stability.  Apparently the studios themselves are “believed to be supportive” in the whole, seeing Blockbuster as an important alternative to Netflix and Redbox; however there is also some tension regarding the rental company’s insistence on offering titles simultaneously with DVD sales, something the studios would prefer to stagger.

Blockbuster are believed to be planning a roughly five month bankruptcy period, and afterwards focus on non-retail initiatives such as automated kiosks in other locations.

Blockbuster may not have had success in mail order movies so far, but someone inside the rental giant’s corporate works thinks that it can compete in the mail order game rental field. Blockbuster has announced that it is now offering access to over 3,000 titles for the Xbox, Xbox 360, PS3, PS3, and Wii via its mail subscription service. The titles include both new and classic games.

The company claims that it is now the only company to offer mail order TV shows, movies, and games. A membership to the game rental service is included with a membership to the mail order rental service for movies at as low as $8.99 monthly. Game rentals for the same price is something Netflix doesn’t offer, maybe this will help Blockbuster.

Today Blockbuster is a shadow of what it was years ago. In its heyday, Blockbuster had six locations in my town of under 100,000 people and today there is not one single location left operating. Redbox and Netflix have all but killed Blockbuster.

One analyst believes that as early as next year we could see the end of Blockbuster altogether. Analyst Douglas A. McIntyre form 24/7 Wall St. has pegged Blockbuster as one of the ten national brands he expects to go under in 2011. Blockbuster is also reportedly mulling over a Chapter 11 filing to eliminate debt.

via Neatorama

Blockbuster has now announced that it is getting its Blockbuster On Demand network onto a couple of the latest Blu-ray players for Toshiba. The new players getting the service are the Toshiba BDX2500 and the BDX2700. The 2500 and 2700 feature WiFi connectivity for accessing content with teh 2500 needing an adapter sold seperately.

Blockbuster and Toshiba announced that the plan is for the Blockbuster service to make its way onto all new Blu-ray players being released from Toshiba this year. The tech will let uses of the players stream on demand films and offer 1080p resolution and BD-Live capability.

This is a big step for Blockbuster, in that they’ve been aiming to get their digital footprint everywhere, but they’re not the only ones of course. iTunes has been providing digital downloads of music for a long time, and to many people, digital is the way things are heading one way or another, whether we want it to or not. And through this agreement, select Motorola phones –which means future phones probably, and nothing on the market now– will have the Blockbuster OnDemand Media application pre-installed and ready to go.

“Mobile video entertainment is exploding, as consumers are demanding the widest selection of content: the movies they love in their living room and on their PC, now also available on their mobile phone, while on the go,” said Christy Wyatt, Vice President of Software Platforms, Applications and Ecosystem, Motorola Mobile Devices. “Together with Blockbuster we intend to deliver an unparalleled portable movie experience on our next-generation handsets.”

Truth be told, we’re all for the way of the digital age, as it makes things a lot faster and easier to use. As long as people get their money, and piracy gets thwarted, then it doesn’t matter how we get our books, our music, or even our movies. We’re still entertained and the creators still get paid: that means the world keeps on spinning, and it probably doesn’t get any better than that.

[via Fierce Wireless]

The exact nature of that “embedded link” is unclear, but it seems it could be as basic as a shortcut to the Blockbuster download service.  That would have to be used with either a wired ethernet or WiFi b/g connection, as the Archos 10 lacks integrated 3G.

It’s hard to see this as anything other than a marketing stunt; we’d be far more impressed if Blockbuster had picked up one of Archos’ 3G-enabled PMPs and delivered mobile video rental content over a cellular network.  A similar media system was offered using Archos hardware in France, with carrier SFR.  Still, if you’re looking for a basic, run-of-the-mill netbook and you’re near a participating Blockbuster, it will cost you $299.99.

[via UMPC Portal]

Numerous Samsung products will gain access to this movie library including Samsung HDTVs, Blu-ray players and home theaters. Specifically, it’s the Blockbuster OnDemand service that will become accessible with Blockbuster titles getting preference in the store site.

The new service will allow you to search for movies, browse titles, read reviews and watch trailers. You can control the entire service with your remote and no computer is needed. New products with OnDemand compatibility will be released in the fall, but some current items like Samsung Plasma and LCD HDTVs above the 650 Series and LED HDTVs above the 7000 Series can access the new streaming content now with downloadable firmware.

So, how do we know this? Apparently, Blockbuster sent in a U.S. Securities and Exchange Commission filing yesterday that shows the company doesn’t feel they can stay in business. Their financial situation seems to be pretty dire, as they’re considering closing up shop.

Even though Blockbuster received a $250 million refinancing loan last week, they are still not sure if the transaction can be completed on May 11th as they may not qualify. A combination of online rentals, online streaming and the economy are believed to be the reason behind Blockbuster’s downturn.

[via Electronista]

Coming soon, there will be no more due dates for your free in-store movie exchanges!

In other words, as long as you are an active BLOCKBUSTER Total Access subscriber, you can keep your free in-store exchanges as long as you like.

In order to eliminate due dates, the free in-store exchange from participating BLOCKBUSTER® stores will now count towards the number of DVDs you may have out under your BLOCKBUSTER Total Access plan. Once you’ve returned your in-store exchange, we’ll then ship you the next available movie in your queue.

Your free in-store exchanges will now show up on your Queue page and in your Rental History, making it easy to keep track of the movies you’ve rented.

Blockbuster Total Access allows online renters to either return movies (DVD and Blu-ray) through the mail or exchange them at its brick-n-mortar store for free movie rentals. Most of the plans are much expensive compare to Netflix, but the redeem part still hold some of the loyal customers from switching to the ‘Red Envelop’.

With the additional program, subscribers will soon be able to rent video games from the mail for their PS2, PS3, Xbox, Xbox 360, as well as the Wii video game consoles. Currently, video game in store exchange is available for half-price, and it’s time sensitive, one has to return the rental in a specific time frame. The announcement also put Blockbuster leapfrog ahead of Netflix and GameFly, as they will be the only one that’s offering both video game and movie rentals from the mail.

The down side is you probably have to wait months to get a new hot release game out in the mail, I’m sure you been there. However, initial rollout will start in the second quarter of this year, and only available to limited number of subscribers. A full blown service may be available by the second half of the year. They must have thought of title availability, and will launch pilot program to test its response.

The VOD expansion and company’s Movielink rental service are an effort to counter its rival, Netflix, in the increasingly popular online video rental and digitally download service. To be honest, it’s awfully crowded at this point. The addition of Sonic Solutions, which includes the established CinemaNow services and partners, would offer an instant boost of more than 10,000 premium films and 40,000 digital titles for rent and sale to PCs, Macs, handhelds, set-tops boxes, portable media players, Blu-ray disc players and Internet-connected TV sets.

The numbers of digital titles are far from reaching Netflix has to offer, not counting the availability of HD streaming contents such as Tivo boxes and Xbox 360, but Blockbuster is asserting on much refreshing title selections according to Tom Adams, of Adams Media Research.

“Blockbuster’s selection will be better than what Netflix is offering,”

I will give it a shot whenever Blockbuster decides to throw in free downloads for existing online rental customers. Some of us are paying $37 per month subscription after taxes!

The Dark Knight sold 600,000 Blu-ray edition copies on release day, shattering previously held records for high definition disk sales. In all, The Dark Knight sold a total of three million copies, making Blu-ray sales just 20 percent of total sales numbers.

In hopes that the Batman summer blockbuster would generate unprecedented sales, Warner Home Video shipped one million Blu-ray copies for the release of the DVD. “In the first two days across those three territories, Blu-ray Disc sales are running between 25 percent and 30 percent of total (disc) sales, which is a massive number,” Warner’s Ron Sanders told Home Media. “We had expected Blu-ray to account for a significant percentage of sales, but not quite this high, which speaks well for the format. It’s really catching on with consumers.”

The Dark Knight broke records set by the Robert Downey Jr. action hit, Iron Man. Iron Man only sold 500,000 Blu-ay disks within the first week. Studio executives were reportedly trying to push the high definition disks after reports stating that there were 147,000 new Blu-ray players being sold on Black Friday week alone. Warner Home Studio says that they may be able to sell one million Blu-ray disks by the weekend.