×
  • remind me tomorrow
  • remind me next week
  • never remind me
Subscribe to the ANN Newsletter • Wake up every Sunday to a curated list of ANN's most interesting posts of the week. read more

News
Blockbuster's Stock Drops After Pending Bankruptcy Reports

posted on by Jacob Browning
Bankruptcy may be filed within days, stocks drop to 6 cents

The video rental chain Blockbuster may file for bankruptcy "within the next few days," an unidentified source familiar with the chain told the news wire service Reuters. Also this week, the company's stock dropped 31 percent to 6 cents, making the business worth US$12 million according to The Hollywood Reporter newspaper.

Shares of the competing comany Netflix rose 7 percent to US$156.93, making the company's market capitalization worth US$8 billion. Blockbuster was delisted by New York Stock Exchange after building a debt of over US$900 million, but the company has been holding off debt payments.

[Via AICN Anime]


discuss this in the forum (10 posts) |
bookmark/share with: short url

News homepage / archives