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Debt, changing media habits topple Blockbuster

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THE ASSOCIATED PRESS
September 23, 2010 - 7:19 am
 

NEW YORK -- Blockbuster Inc., once the dominant movie rental company in the U.S., filed for Chapter 11 bankruptcy protection on Thursday, after reeling from mounting losses, rising debt and competitors that have better catered to Americans' changed media habits. The move, long expected, marks the end of an era. Americans are forgoing Blockbuster and watching movies via video subscription services like Netflix Inc., video on demand and vending machine services such as Coinstar Inc.'s Redbox.

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