4
| News |

Blockbuster Wins Some, Loses a Lot

^
Keep Dallas Observer Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Dallas and help keep the future of Dallas Observer free.

On his blog last week, Carl Ichan noted that it was his idea to install Jim Keyes as chairman and CEO of Blockbuster and that Keyes "has saved approximately $100 million in operating costs over the past year, a laudable result." Keyes has also managed to increase the Dallas-based company's revenues by 3.3 percent in the second quarter of '08 compared with the same period in '07 -- seems like they're selling a lot of new movies but also renting fewer games.

Only, some bad news for the company this a.m., as it reports a net loss of $41.9 million for the second quarter of 2008, or $10.5 million more than it lost during the same period in '07. Keyes, in the media release, points to Movielink as the future. Funny thing, though: No mention of those downloading kiosks or those video-rental ATMs. --Robert Wilonsky

Keep the Dallas Observer Free... Since we started the Dallas Observer, it has been defined as the free, independent voice of Dallas, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Dallas with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.

 

Join the Observer community and help support independent local journalism in Dallas.

 

Join the Observer community and help support independent local journalism in Dallas.