Blockbuster Isn't Dead
Don't count Blockbuster out just yet, says Fortune magazine. The company is taking some dramatic steps to remake itself in the face of fierce competition from Netflix's mail-order movie rentals, video on demand, and Apple's recent rollout of online film rentals. Blockbuster reported today that it more than quadrupled its fourth-quarter net income with the help of "aggressive cost reductions, the repositioning of our subscription programs, and a renewed focus on store merchandising" over the last half of the year, Blockbuster CEO Jim Keyes said in a statement.
Tags: sales | Blockbuster | movies
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