Huizenga's Baby Going Bust
Blockbuster is poised to close 1,000 stores and somewhere Wayne Huizenga is shedding a tear
By TODD WRIGHT
Updated 5:00 PM EDT, Fri, Sep 18, 2009
The time of going into a mega-store and renting a DVD are VHS are over.
Well they have been over for sometime with the advent of Netflix and downloading off the Internet, but Blockbuster appears to just now be getting the memo. And if you're still renting video tapes, then you should probably click out of this article now.
The national chain started by Miami's favorite franchise killer H. Wayne Huizenga (you can't forget the H) is set to close about 1,000 of its stores to cut costs because of lost revenue to the new kids on the block. That could mean thousands of layoffs for employees of the once undisputed king of movie renting.
But who needs people, when renters don't have to leave their beds to get the latest Brad Pitt or Pixar flick? Well some actually have to leave the bed to go to the mailbox, but you get the point.
Blockbuster will replace the stores with movie kiosks like the $1 machines you see in local supermarkets. The new kiosks could also include video game rentals, which could give Blockbuster a leg up in the fight for rental supremacy.
Huizenga started Blockbuster in 1987 and grew it into a juggernaut before selling his interests in the company in 1994. Then, of course he went onto torpedo the Miami Dolphins, Florida Marlins and Florida Panthers in rapid succession.
At least, Huizenga can't be faulted for this meltdown.
First Published: Sep 18, 2009 3:53 PM EDT
You Might Like
You have 2000 characters left
