Rumor: Blockbuster Filing for Bankruptcy Next Month [Blockbuster]

The much-documented decline of Blockbuster is drawing to a halt ahead of expected, with key people concerned with the movie business touting a bankruptcy notice for the gigantic blue just next month.

Supposedly meetings were held last week with six of the enormous movie studios, with Blockbuster alerting them to their soon-to-be bankruptcy move due in the course of September.

Of course, filing for bankruptcy doesn’t necessarily mean they’re closing shop for good. Instead, they’re expected to close 500 of its 3,425 stores across the States, joining the 1,000 they shuttered inside the last year.

What’s Blockbuster’s next move? Why, continuing their assault on the already-crowded mail-order rentals and presumably, digital rentals market. Not to mention those SD card rental kiosks . [ LA Times ]

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