Blockbuster Video Company

Wiki info

Blockbuster became a multibillion-dollar company, but Huizenga was worried about how new technology could threaten their business, such as video on demand and the growth of cable television. In 1991, just three days after Time Warner had announced they would upgrade their cable system, Blockbuster's shares dropped more than 10 percent. In 1993, he made an attempt to expand into other areas by investing in Viacom. Huizenga also considered buying a cable company, but this was unknown territory for Blockbuster and he decided not to take the risk. He also had the idea of a 2,500-acre Blockbuster sports and amusement park in Florida, something Blockbuster was still considering as late as August 1994. Unable to come up with a proper solution about how to face the growing threats to the traditional videostore, he made the decision to sell Blockbuster to Viacom and pull out. Viacom acquired Blockbuster in 1994 for $8. 4 billion to help finance its bid for Paramount in the bidding war with QVC Network Inc. Blockbuster's stock trade had been dropping steadily the months before the merger, with a small rise after the deal was announced,[41] and three years later, in 1997, it's worth was estimated to just $4. 6 billion. [42]

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Photogallery Blockbuster Video Company:


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company


Blockbuster Video Company