Dish-Owned Blockbuster Will Keep More Than 1,500 Stores Open

3:14 PM PST 07/21/2011 by Georg Szalai

The video rental company in recent months worked to reach agreements with landlords that make financial sense for the company.


NEW YORK - Dish Network-owned video rental firm Blockbuster said Thursday that it will keep operating more than 1,500 U.S. stores, or more than 90 percent of the retail locations that the satellite TV company acquired earlier this year, and retain more than 15,000 store employees.

In late April, Dish acquired substantially all of the assets of Blockbuster in a bankruptcy court auction for $320 million. Back then, the company had more than 1,700 store locations.

Under Dish's ownership, Blockbuster in recent months worked to reach agreements with landlords that make financial sense for the company.

“By lowering pricing and offering competitive summer promotions, we’ve brought millions of customers back into Blockbuster stores in the last three months to experience the best in convenience, choice and value," said Michael Kelly, president of Blockbuster. "Today, more than 100 million people live near a Blockbuster store."
 

Email: Georg.Szalai@thr.com

Twitter: @georgszalai

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