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Sumner Redstone, whose Viacom conglomerate then owned Blockbuster, personally pioneered a new revenue-sharing arrangement for video. Blockbuster obtained videos for little cost and kept 60% of the rental fee, paying the other 40% to the studio, and reporting rental information through the global media measurement and research company Rentrak .
He founded AutoNation and Waste Management Inc., and was the owner or co-owner of Blockbuster Video, the Miami Dolphins of the National Football League (NFL), the Florida Panthers of the National Hockey League (NHL), and the Miami Marlins (formerly Florida Marlins) of Major League Baseball (MLB).
Carl Icahn buys a stake in Blockbuster after the company launches its online business and nixes late fees. 2005. Blockbuster’s bid to take over Hollywood Video fails. The same year, sales begin...
The following month brought the purchase of Vector Video, Inc., and Video Superstores Master Limited Partnership, which, with 106 stores, had been Blockbuster's largest franchisee. By June 1989, two years after Huizenga's takeover, the company ran 700 stores.
In 1994, Blockbuster was acquired by the media giant Viacom Inc., whose brands include MTV and Nickelodeon. In the mid-1990s, the digital video disc (DVD) made its debut and in 1997, Netflix,...
1994: Viacom acquires Blockbuster for $8.4 billion, integrating it into its media empire. Blockbuster’s stores became a staple of American culture, offering not just movies but also video game...
Irene Kim: At its peak in the late '90s, Blockbuster owned over 9,000 video-rental stores in the United States, employed 84,000 people worldwide, and had 65 million registered customers. Once...
However in 2014, Blockbuster LLC closed all their corporate-owned stores, leaving just 50 remaining in the world.
How did Blockbuster Video go from the king of movie rental night to one store left in the country? Read more about the history of the brand to discover why
The Birth of Blockbuster: Founded in 1985 by David Cook in Dallas, Texas, Blockbuster Video revolutionized the way people consumed movies. With its distinctive blue and yellow signage,...