Blockbuster, Bankruptcy | featured news

Dish Network Corp won Blockbuster Inc in a bankruptcy auction for about $320 million, a move that could see the second-largest U.S. satellite TV provider tapping the movie rental chain's online content to strengthen its offerings.

Blockbuster will start closing 186 more stores by the end of the month, leaving more than a third of its U.S. brick-and-mortar locations closed or slated for closure since the video-rental chain filed for bankruptcy in September.

Blockbuster Inc (BLOAQ.PK) will proceed to a sale auction in April after the bankrupt video rental chain negotiated an agreement with creditors who had called for an immediate Chapter 7 liquidation.

Blockbuster Inc., once the dominant movie rental company in the U.S., filed for Chapter 11 bankruptcy protection on Thursday, reeling from mounting losses, rising debt and competitors that have better catered to Americans changed media habits.

Video rental giant Blockbuster is expected to file for Chapter 11 bankruptcy protection as early as today, the Wall Street Journal reported Wednesday, citing sources.

Blockbuster Inc. will file bankruptcy next month, people familiar with the matter have told the Los Angeles Times.

Blockbuster said in its annual report for 2009 that continuing losses and debt raise "substantial doubt" about its ability to ...