Blockbuster files for Chap. 11

[Kevin_Kennedy]

Blockbuster Inc. filed for bankruptcy protection Thursday in a last-ditch plan to remake the ubiquitous movie-rental chain amid seismic shifts in how consumers view movies and television shows.

Struggling with more than $900 million of debt, Blockbuster filed for Chapter 11 protection in New York with a plan to turn itself over to creditors. In a deal backed by senior bondholders, Blockbuster would reduce its total debt to roughly $100 million by the time it exits bankruptcy, which it hopes to do by early next year.

Blockbuster Turns Itself Over to Creditors - WSJ.com

Good thing those genius anti-trusters stopped Blockbuster and Hollywood Video's merger so they wouldn't become a monopoly.

 

[william the wie]

This industry will continue to decline.

 

[Toro]

Blockbuster Inc. filed for bankruptcy protection Thursday in a last-ditch plan to remake the ubiquitous movie-rental chain amid seismic shifts in how consumers view movies and television shows.

Struggling with more than $900 million of debt, Blockbuster filed for Chapter 11 protection in New York with a plan to turn itself over to creditors. In a deal backed by senior bondholders, Blockbuster would reduce its total debt to roughly $100 million by the time it exits bankruptcy, which it hopes to do by early next year.

Blockbuster Turns Itself Over to Creditors - WSJ.com

Good thing those genius anti-trusters stopped Blockbuster and Hollywood Video's merger so they wouldn't become a monopoly.

Of course it wouldn't have mattered.

Any business which distributes a product that can more easily be distributed via the Internet is under serious threat. Video rental was one of those.

 

[Mr Natural]

Just as Blockbuster killed the Mom and Pop video store, Netflix and On Demand services killed Blockbuster.

It's a dog-eat-dog world.

 

[Kevin_Kennedy]

This industry will continue to decline.

I don't see the industry of video rental as in decline at all. You've got Redbox and Netflix for physical video rentals, and OnDemand services as well.

 

[kwc57]

Blockbuster Inc. filed for bankruptcy protection Thursday in a last-ditch plan to remake the ubiquitous movie-rental chain amid seismic shifts in how consumers view movies and television shows.

Struggling with more than $900 million of debt, Blockbuster filed for Chapter 11 protection in New York with a plan to turn itself over to creditors. In a deal backed by senior bondholders, Blockbuster would reduce its total debt to roughly $100 million by the time it exits bankruptcy, which it hopes to do by early next year.

Blockbuster Turns Itself Over to Creditors - WSJ.com

Good thing those genius anti-trusters stopped Blockbuster and Hollywood Video's merger so they wouldn't become a monopoly.

Aren't they too big to fail? Somebody somewhere should do something!

 

[Kevin_Kennedy]

Blockbuster Inc. filed for bankruptcy protection Thursday in a last-ditch plan to remake the ubiquitous movie-rental chain amid seismic shifts in how consumers view movies and television shows.

Struggling with more than $900 million of debt, Blockbuster filed for Chapter 11 protection in New York with a plan to turn itself over to creditors. In a deal backed by senior bondholders, Blockbuster would reduce its total debt to roughly $100 million by the time it exits bankruptcy, which it hopes to do by early next year.

Blockbuster Turns Itself Over to Creditors - WSJ.com

Good thing those genius anti-trusters stopped Blockbuster and Hollywood Video's merger so they wouldn't become a monopoly.

Of course it wouldn't have mattered.

Any business which distributes a product that can more easily be distributed via the Internet is under serious threat. Video rental was one of those.

It doesn't matter in the sense that the Blockbuster-Hollywood merger probably still would have filed for bankruptcy, but this just goes to show the nonsensical idea behind anti-trust laws.

 

[Kevin_Kennedy]

Blockbuster Inc. filed for bankruptcy protection Thursday in a last-ditch plan to remake the ubiquitous movie-rental chain amid seismic shifts in how consumers view movies and television shows.

Struggling with more than $900 million of debt, Blockbuster filed for Chapter 11 protection in New York with a plan to turn itself over to creditors. In a deal backed by senior bondholders, Blockbuster would reduce its total debt to roughly $100 million by the time it exits bankruptcy, which it hopes to do by early next year.

Blockbuster Turns Itself Over to Creditors - WSJ.com

Good thing those genius anti-trusters stopped Blockbuster and Hollywood Video's merger so they wouldn't become a monopoly.

Aren't they too big to fail? Somebody somewhere should do something!

Certainly not. The point is that the anti-trusters don't have any idea what they're doing.

 

[CurveLight]

Blockbuster Inc. filed for bankruptcy protection Thursday in a last-ditch plan to remake the ubiquitous movie-rental chain amid seismic shifts in how consumers view movies and television shows.

Struggling with more than $900 million of debt, Blockbuster filed for Chapter 11 protection in New York with a plan to turn itself over to creditors. In a deal backed by senior bondholders, Blockbuster would reduce its total debt to roughly $100 million by the time it exits bankruptcy, which it hopes to do by early next year.

Blockbuster Turns Itself Over to Creditors - WSJ.com

Good thing those genius anti-trusters stopped Blockbuster and Hollywood Video's merger so they wouldn't become a monopoly.

In fifty years there will be DVDs on museum walls next to 8-track tapes. Even Netflix is looking how to get in the digital wedge because the idea of images/music being transported by plastic is obselete.

 

[william the wie]

Unless demand explodes total revenues will keep going down. Advertiser supported web sites such as hulu, direct downloads for a royalty fee and so on will not only take out this industry but cineplexes too.

 

[CurveLight]

Unless demand explodes total revenues will keep going down. Advertiser supported web sites such as hulu, direct downloads for a royalty fee and so on will not only take out this industry but cineplexes too.

No. Way.

Unless someone can find a way to create a portable theater that competes with the movie experience it will be around for a while. Plus, having your lady bounce up and down on your lap in the movie theater just wouldn't be the same if you did it in your own home.

 

[Toro]

It doesn't matter in the sense that the Blockbuster-Hollywood merger probably still would have filed for bankruptcy, but this just goes to show the nonsensical idea behind anti-trust laws.

Why?

 

[Toro]

Blockbuster Turns Itself Over to Creditors - WSJ.com

Good thing those genius anti-trusters stopped Blockbuster and Hollywood Video's merger so they wouldn't become a monopoly.

Aren't they too big to fail? Somebody somewhere should do something!

Certainly not. The point is that the anti-trusters don't have any idea what they're doing.

That's like saying shareholders and bondholders have no idea what they're doing, not to mention the real estate companies that leased them their buildings, nor even the hollywood studios.

 

[Toro]

Unless demand explodes total revenues will keep going down. Advertiser supported web sites such as hulu, direct downloads for a royalty fee and so on will not only take out this industry but cineplexes too.

No. Way.

Unless someone can find a way to create a portable theater that competes with the movie experience it will be around for a while. Plus, having your lady bounce up and down on your lap in the movie theater just wouldn't be the same if you did it in your own home.

I think movie theatres have a longer shelf life because there is an experience going to the movies, especially with 3D. But its business model will be under threat when 20-30 years from now, some small gadget that sits in your palm blasts huge pictures on the wall in stereophonic sound.

 

[Kevin_Kennedy]

It doesn't matter in the sense that the Blockbuster-Hollywood merger probably still would have filed for bankruptcy, but this just goes to show the nonsensical idea behind anti-trust laws.

Why?

I'm sure you know the Austrian position on anti-trust laws. There are no monopolies on the private market, only governments create real monopolies. Which means that anti-trust laws are simply there to give government another level of control over private businesses and stifle the free market. If Blockbuster and Hollywood Video believed the merger was in their best interests then that should have been all that was necessary for that merger to happen.

 

[Kevin_Kennedy]

Aren't they too big to fail? Somebody somewhere should do something!

Certainly not. The point is that the anti-trusters don't have any idea what they're doing.

That's like saying shareholders and bondholders have no idea what they're doing, not to mention the real estate companies that leased them their buildings, nor even the hollywood studios.

If they knew what they were doing they wouldn't have been worried about a merger between Blockbuster and Hollywood which are two dying business models.

 

[Paulie]

I don't know, I always kind of enjoyed the walk around the blockbuster store with the lady looking for movies to rent. It was half the fun.

Something about doing it over the internet is just gay to me.

 

[Toro]

It doesn't matter in the sense that the Blockbuster-Hollywood merger probably still would have filed for bankruptcy, but this just goes to show the nonsensical idea behind anti-trust laws.

Why?

I'm sure you know the Austrian position on anti-trust laws. There are no monopolies on the private market, only governments create real monopolies. Which means that anti-trust laws are simply there to give government another level of control over private businesses and stifle the free market. If Blockbuster and Hollywood Video believed the merger was in their best interests then that should have been all that was necessary for that merger to happen.

Private markets can create monopolies.

 

[Toro]

Certainly not. The point is that the anti-trusters don't have any idea what they're doing.

That's like saying shareholders and bondholders have no idea what they're doing, not to mention the real estate companies that leased them their buildings, nor even the hollywood studios.

If they knew what they were doing they wouldn't have been worried about a merger between Blockbuster and Hollywood which are two dying business models.

If most everyone knew what they were doing, they wouldn't have invested nor had liabilities with video stores. It is not realistic to expect government officials to know everything about the future any more than it is realistic to expect the market to know everything about the future.

 

[Baruch Menachem]

Why?

I'm sure you know the Austrian position on anti-trust laws. There are no monopolies on the private market, only governments create real monopolies. Which means that anti-trust laws are simply there to give government another level of control over private businesses and stifle the free market. If Blockbuster and Hollywood Video believed the merger was in their best interests then that should have been all that was necessary for that merger to happen.

Private markets can create monopolies.

Only in instances with the connivance of the power of the state.

there are instances where the state has determined that regulated monopolies are in the public interest, as in Water, gas, transit, electric and phone. But as a normal deal, monopolies need state assistance.