Thursday October 13, 2005 12:59 am
Blockbuster Turned Down $50 Million Netflix Purchase
Wow, this is something that I would have tried to keep under wraps for, like, ever. It turns out that Blockbuster has the opportunity to purchase rent-by-mail DVD service Netflix back in 2000, but turned it down. Instead, the company went on to partner with Enron in a 20-year video-on-demand deal - but we all know how that turned out. Now, Netflix is worth about $1.4 billion smackers, while Blockbuster is trying to keep afloat at about $850 million. Gotta jump on things while they’re hot I guess.
Read More | Variety
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