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#41 | |
Senior Member
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#43 | |
Blu-ray Samurai
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"Viacom, Blockbuster Split Up Video rental giant looking for new revenue streams. by IGN DVD June 21, 2004 - Viacom Inc. and Blockbuster Inc. are going their separate ways, with the video retail giant being spun off from Viacom. The deal would involve Blockbuster buying out the outstanding shares from all stockholders, including Viacom. Blockbuster anticipates paying $5 per share, or a total of approximately $905 million based on the number of shares currently outstanding. Viacom owns 81.5 percent of Blockbuster's outstanding shares, which translates into a cash windfall of $738 million for Viacom. Blockbuster will be receiving financial help from JPMorgan, Citigroup and Credit Suisse First Boston as part of this buyout. The three financial firms will set up a $1.5 billion line of credit, from which Blockbuster will borrow the nearly $1 billion needed to finance the buyout. Viacom expects the split to be completed some time in the third quarter of this year. This wasn't exactly the best deal for Viacom. It purchased Blockbuster in 1994 for $8.4 billion. Today, the company is worth $2.7 billion, with 8,900 stores worldwide. Blockbuster plans to adjust its business, since right now it's losing money. Last year it lost $984 million on revenue of $5.9 billion. The company hopes that freedom from Viacom will allow for aggressive moves beyond just video rental, which is drying up in the face of video on demand and DVD rentals by mail. The company is launching an online rental program to compete with NetFlix and plans to expand in-store sales of DVDs and videogames." |
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#44 | |
Expert Member
Jun 2007
Pacific NW
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Just look at the answer "At this moment in time" this means that at a future moment, say 18 months, it might change. |
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#45 |
Blu-ray Samurai
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They are using Shrek 3??? Lame!!!
It is not as good as Shrek 1 and 2. Guess what, if I am the customer (with the fact that I am BD fan), I would not buy it on HD DVD just to enjoy the film in HD. I'd rather enjoy it in DVD. |
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thread | Forum | Thread Starter | Replies | Last Post |
When does Paramount's exclusive deal with HD DVD end? | General Chat | Canada | 13 | 11-14-2007 04:48 PM |
Paramount's HD DVD Decision Is Anti-Consumer | Blu-ray Technology and Future Technology | HDTV1080P | 14 | 08-27-2007 10:38 PM |
Paramount's HD DVD Decision Decried by Analysts | Blu-ray Technology and Future Technology | J_UNTITLED | 22 | 08-24-2007 08:19 PM |
Paramount's HD DVD Decision Decried by Analysts | Blu-ray Technology and Future Technology | lokus | 2 | 08-24-2007 05:51 PM |
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