Blockbuster said the main reason behind its business strategy was the evolution of its electronic entertainment services. The video-rental giant, a majority-owned unit of Viacom, said it also doesn't plan to bring strategic investors such as AOL into Blockbuster.com.
Last November, Blockbuster said it would sell about 3% of Blockbuster.com to AOL for $30 million as part of a broader marketing alliance between the two companies. Even so, the marketing alliance with AOL stays in place, both companies said.
Blockbuster, which revealed its latest plans in a conference call with analysts last week for its second-quarter earnings, said the change in market conditions was a factor in its decision.
LIVE NATION POSTS (ANOTHER) RECORD QUARTER
More butts in seats than ever before. (5/3a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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