The final curtain is falling on Blockbuster.
The company that decades ago introduced millions of Americans to home video has said it will close its remaining 300 US stores by January.
The move means that about 2,800 people will lose their jobs, said Dish Network Corp, which owns Blockbuster.
“This is not an easy decision, yet consumer demand is clearly moving to digital distribution of video entertainment,” Dish Chief Executive Officer Joseph Clayton
“We continue to see value in the Blockbuster brand, and we expect to leverage that brand as we continue to expand our digital offerings.”
Dish Network’s retreat will render Blockbuster’s once-ubiquitous brand nearly extinct.
About 50 US stores operating under franchise agreements will remain open.
Blockbuster On Demand, its streaming service for the general public, also will continue to operate, as will its @Home business for Dish pay-TV customers.
Blockbuster’s downfall began more than a decade ago with the rise of Netflix’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.
Blockbuster To Close Remaining US Shops
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