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Blockbuster Loses Latest Battle
After waging a price war against Netflix (NFLX Quote), Blockbuster(BBI Quote) is now slashing payrolls amid wider losses.
Moreover, its online rental service lost subscribers during the third quarter, reflecting both a change in the Internet plan's offerings and increasing heat from Netflix, its top rival.
Blockbuster on Thursday posted a loss of $37.8 million, or 20 cents a share, for its third quarter. That compares with a loss of $27.5 million, or 15 cents a share, in the same quarter last year. ...
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