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(Image from article: "Debt, changing media habits topple Blockbuster")

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Debt, changing media habits topple Blockbuster

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.

Senh: Blockbuster was too arrogant. When Netflix started gaining popularity several years ago, the CEO back then called it a niche market, and that they're not worry about it at all. Now, Netflix has 15 monthly subscribers, and Blockbuster is bankrupt.

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