- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
Dish Network will take a $46 million write-down for Blockbuster stores in Great Britain after so far failing to attract a buyer for the home-entertainment franchise.
Dish, which plans to release fourth-quarter earnings on Feb. 20, said in a filing on Friday that it has relinquished control of Blockbuster U.K., so that now U.K. “administrators” have been assigned the task of liquidating the asset and paying off creditors.
Dish acquired Blockbuster in the U.S. and certain other parts of the world in April, 2011. Last month, it said it would shut down about 25 percent of the 528 stores in the U.K. and eliminate 760 jobs.
Dish CEO Charlie Ergen had planned to turn the Blockbuster stores stateside into wireless stores, but has lamented that it has been a more challenging chore than he had imagined.
In midday trading on Friday, Dish shares were up 1 percent to $37.09.
Sign up for THR news straight to your inbox every day
More from The Hollywood Reporter
Christina Applegate Slams Candace Owens’ Criticism of Underwear Ad Featuring Model in Wheelchair: “My Rage Is Keeping Me Awake”
Justin Roiland Domestic Violence Charges Dismissed by Orange County District Attorney
The Stories Behind Whitney Houston’s Unreleased Gospel Songs: “She Left Healing Music for the World”
Mindy Kaling, Bruce Springsteen, Julia Louis-Dreyfus Among Honorees of White House’s National Medals of Arts
Ed Sheeran Goes on Intimate Journey in New Disney+ Docuseries ‘Ed Sheeran: The Sum of It All’