A group of disgruntled shareholders may be seeking legal recourse should Blockbuster follow through with its alleged plans to file for bankruptcy in the next few weeks. Led by Niko Celentano, the group of 480 shareholders represents about a quarter of BB’s total voting shares. In a letter dated August 29, Celentano informs BB CEO Jim Keyes that his group will “prepare legal representation” should bankruptcy occur.
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Archive for August, 2010
Here we go again… Another Tuesday is upon us, and Redbox has some new titles for us. What will you be watching?
9th Company Starring: Artur Smolyaninov,Aleksey Chadov
Genre: Action,Foreign,War
Release Year: 2005
movie details / trailer
Beatdown Starring: Rudy Youngblood,Michael Bisping
Genre: Action,Drama
Release Year: 2010
movie details / trailer
Diary of a Wimpy Kid Starring: Zachary Gordon,Robert Capron,Rachael Harris,Steve Zahn,Connor Fielding
Genre: Family,Children
Release Year: 2010
movie details / trailer
Diary Of A Wimpy Kid (BLU-RAY) Starring: Zachary Gordon,Robert Capron,Rachael Harris,Steve Zahn,Connor Fielding
Genre: Family,Children
Release Year: 2010
movie details / trailer
Diego's Ultimate Rescue League Starring: Diego
Genre: Family,Children
Release Year: 2010
movie details / trailer
Harry Brown Starring: Emily Mortimer,Michael Caine
Genre: Action,Crime,Thriller,Western
Release Year: 2009
movie details / trailer
Tyler Perry's Why Did I Get Married Too? Starring: Janet Jackson,Tyler Perry
Genre: Comedy,Drama
Release Year: 2010
movie details / trailer
Tyler Perry's Why Did I Get Married Too? (Blu-ray) Starring: Janet Jackson,Tyler Perry
Genre: Comedy,Drama
Release Year: 2010
movie details / trailer
The box office has been kind to the Mouse House this year, as the studio should reach its second 2010 billion-dollar film this weekend. Toy Story 3, which has already become the highest-grossing animated film of all time, was projected to cross the $1 billion threshold on Friday. The Tim Burton-directed Alice in Wonderland reached the billion-dollar mark this spring.
A post-bankruptcy Blockbuster will likely be much leaner and a shadow of its former self, which will be a boost to its competitors.
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Wedbush Morgan analyst Michael Pachter believes that BB’s rivals, particularly Redbox, should be able to absorb the large number of consumers a streamlined and simplified Blockbuster will likely be shedding.
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Redbox parent company Coinstar has been named one of the top 100 fastest-growing companies of 2010 by Fortune magazine. Coinstar is ranked number 61 on Fortune’s list, with a three-year annual revenue growth rate of 36%.
The writing is on the wall for fallen titan Blockbuster, and it apparently spells bankruptcy.
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The Los Angeles Times, citing “people who have been briefed on the matter” is reporting that Blockbuster will be filing for bankruptcy in the middle of September. BB’s move would likely be a “pre-planned bankruptcy,” which means that the majority—but not all—of its debt holders would give their assent before the filing.
Deciding to focus primarily on its bread-and-butter movie rental and coin-counting kiosks, Redbox parent company Coinstar has divested itself of its money transfer business. The business has been sold to Sigue Corp. for $41.5 million in cash and stock.
The courtroom conflagration over Redbox’s “late fees” has dragged another rental chain into the fray. Laurie Piechur’s attorneys have served Blockbuster with a discovery subpoena requesting that BB turn over meeting minutes, drafts and other internal communications regarding its NCR-operated Blockbuster Express kiosks.
We have been slaving over a new edition of our popular “Inside Redbox Pro” iPhone app for awhile now, and in a move that can only be attributed to sleep-deprivation (and just being a little crazy in the first place), we have decided to release it for FREE.
Now, we are not sure how long it will be available for for this low price (is free really a price?), but we would advise that you act quickly if you want to get your copy. As soon as we find the right medication to treat our problem, the price will be going back up! :)
Also, the more people that download it, the longer we are likely to keep it available for free. (You see, we really like recognition, so we would LOVE to see this app get to the Top 25 in the app store.) So, be sure to share this message with your iPhone and iTouch-enabled friends through email, Facebook, Twitter, or however else you want to get the word out (you can use the buttons as the bottom of this post to make it easy).
We appreciate you checking it out (and sharing it), and are always open to your feedback. Feel free to leave a comment if you have any ideas, suggestions or if you run into any (gasp!) bugs. We are here for you!
Full details about the app after the break…
