Blockbuster to Close Its 300 U.S.-based Stores and DVD-by-mail program

Adrienne Minor

Blockbuster to Close Its 300 U.S.-based Stores and DVD-by-mail program (TheStreet.com)

By January 2014, Blockbuster Video parent Dish Network will close all of its Blockbuster retail locations in the United States, as well as shutting down its DVD-by-mail rental service. Blockbuster will continue to support franchisees and operate its streaming service. Blockbuster’s business model has been in disarray since the rise to prominence of Netflix and Apple’s iTunes. “This is not an easy decision, yet consumer demand is clearly moving to digital distribution of video entertainment,” said Dish CEO Joseph P. Clayton in a statement.

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U.S. Federal Reserve officials confirmed further stimulus efforts due to current economic weakness, causing investors to enter the markets and pushing the Dow Jones Industrial Average to a new record closing high of 15,746.88.

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