DISH Network (DISH) bought struggling Blockbuster back in 2011 for $325 million, but any hope that it could bring life back into the brick-and-mortar video stores is fading quickly. Last year it shut the doors on around 500 Blockbuster stores, and has now announced that it plans to close another 300 stores in the U.S.
Blockbuster is a dinosaur in today's world. People across the nation used to pile into their cars on a Friday night, run to their local Blockbuster, and pick up a movie to enjoy. That simply doesn't happen in today's world. Technology changed and Blockbuster is quickly going extinct.
With services such as Amazon (AMZN), Netflix (NFLX), and Cable on Demand, there is just no reason why anyone needs to rent movies from a Blockbuster. And these are just the legal avenues people have to rent movies. Once you consider the use of illegal sites to download videos such as torrents and peer-to-peer, it is easy to understand why Blockbuster is struggling.
Not only is it struggling, it is dying. There is nothing that Blockbuster, or DISH, can do to save its business, at least not in its current form.