HA! Eat it, Blockbuster!
UPDATE 2-Blockbuster posts loss, drops forecast
CHICAGO, Aug 9 (Reuters) - Movie rental chain Blockbuster Inc. (BBI.N: Quote, Profile, Research) on Tuesday posted a quarterly loss that was more than double what analysts expected as lackluster new video releases failed to attract consumers.
The company also said it was no longer on track to meet its 2005 financial forecast.
Also Tuesday, Blockbuster said it was raising the monthly fee for its online service. The price of a three-movie plan will rise to $17.99 from $14.99 as of Aug. 19, bringing it in line with Netflix Inc.’s (NFLX.O: Quote, Profile, Research) price.
HA! I don’t think there’s much more to say about it. (Click here for the whole article)
And I don’t mean to tell you “I told you so,” but…