300 Blockbuster stores to close in US
The final curtain is falling on the Blockbuster video-rental stores that Dish Network Corp. owns in the U.S.
The closures announced Wednesday will affect about 300 Blockbuster locations scattered across the country. Dish Network expects the stores to be closed by early January. Dish Network says about 2,800 people will lose their jobs.
The Englewood, Colo. satellite-TV provider also is shutting down Blockbuster's DVD-by-mail service next month.
Dish Network's retreat will render Blockbuster's once-ubiquitous brand nearly extinct. About 50 U.S. stores operating under franchise agreements will remain open.
Blockbuster's downfall began more than a decade ago with the rise of Netflix Inc.'s DVD-by-mail service, followed by the introduction of a subscription service that streams video over high-speed Internet connections.
Dish Network bought Blockbuster out of bankruptcy court in 2011.
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