Amid reports today in the Wall Street Journal that investor Carl Icahn and Dish Network, and even South Korean company SK Telecom, are reportedly preparing bids for Blockbuster ahead of its auction Monday, creditors like Microsoft, Yahoo and T-Mobile are worried that whomever buys the bankrupt movie-rental retailer won’t be able to settle its debt to them. Bloomberg reported today that more than 50 such creditors have filed objections to a sale in U.S. Bankruptcy Court. These are apart from the larger creditors, like Hollywood studios, who agreed to a deal earlier this month that allowed the auction process to move forward. That bidding process is designed to eclipse a $290M “stalking horse” offer by a venture group led by Monarch Capital.


As an aside, isn’t it such sweet justice that Blockbuster went under? Remember the days of losing your movie under your bed, and only finding it to discover a hefty 100 dollar late fee! I seriously remember crying at the counter once, and the employee had absolutely zero sympathy. Thank goodness Netflix had a better and more moral model to shut those bad-guys down.
Serves them right. Blockbuster is a horrible company run by incompetent idiots, who don’t care about their employees or their customers, which is why there are failing and have been for years. They treat their employees like dirt, making the SM’s and AM’s work 50-60 hour weeks and not pay them properly and sometimes even the CSR’s work unpaid overtime.
And don’t get me started on the District and Regional Managers, their all idiots.
Good Riddance!
@Dishmaster
You didn’t have a $100 late fee. They charged your account the full price of the rental (studios charged Blockbuster $90+ for one VHS tape). When you returned the rental, the cost of the replacement was deducted and you were probably just left with the ten day late fee, around $35.
Good riddance. $35 is still one helluva late fee. They will not be missed.
yes, they are already being missed. dvd sales are down 50% in the past 4 years and not coming back. partly because people who used to stop at blockbuster now don’t have a place to stop. instead they go home and surf the web or do something else. so movies are less profitable for the studios, and they are making fewer of them and spending less on development. i suppose this leave more time for writers to post comments on dhd, but that doesn’t pay the bills.
Former CEO John Antioco ruined this company.
Wonder what his pay, bonus, stock options and severance package was for ruining the company.
Cheaper always wins; look at walmart.
Wow, if people got their movies back on time to begin with then they wouldn’t have a late fee. Movies don’t belong under the bed. You are renting someone’s property and should have respect for it and return it on time. People seem to also forget there are other people who may be wanting to rent that movie they are not returning. But of course they don’t care about others, just themselves. These are the same people who complain because they can’t get a certain movie. I wonder if it is because some inconsiderate person left their movie under the bed too? Come on people… grow up! If you keep a movie 3 months you’re going to get a $100 late fee!
@stuart — you are incorrect, my friend. I was charged a $100 late fee — I am sure of it. The deducted price stuff was instituted much later, when Blockbuster started to lose money for their moral ineptitude. http://www.thedishmaster.com