Business

Blockbuster stores owned by Dish Network to close in US

Wednesday, November 06, 2013

Blockbuster video-rental stores owned by Dish Network Corp. are shutting down across the country.

The closures, which were announced on Wednesday, will affect about 300 Blockbuster locations across the U.S. Dish Network said it expects the stores to be closed by early January, and about 2,800 people will be out of jobs.

The Colorado-based satellite-TV provider is also putting an end to Blockbuster's DVD-by-mail service. The service is expected to end mid-December.

The company's retreat will render the once-ubiquitous brand nearly extinct. About 500 U.S. stores operating under franchise agreements will remain open.

Blockbuster's downfall started with the rise of Netflix Inc.'s DVD-by-mail service, followed by the introduction of a subscription service that streams video online.

Dish Network bought Blockbuster out of bankruptcy court in 2011.

The Associated Press contributed to this report.

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