"Wal-Mart Stores Inc. has added streaming movies to its website as the world's largest retailer attempts to grab a bigger share of the online movie market from rival service Netflix Inc.
The decision to offer movie sales and rentals through Walmart.com comes just two weeks after Netflix raised prices for the majority of its customers. The price hike provoked howls of protest from consumers and disappointing subscriber growth projections, leading to a significant drop in Netflix's stock price.
You can't say we didn't see this one coming, but it's still aggravating that a company this large can file for Bankruptcy at the cost of the taxpayers.
Blockbuster has announced that it will close 960 retail stores before the end of 2010. Between 280 and 300 units will be closed before the end of this year.
In case you have not been paying attention, Blockbuster has been having a difficult time over the last couple of years; and while the company has about 7,000 stores worldwide, a good number of those stores are just no longer profitable.
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