Blockbuster to Close a Third of Its Stores

Blockbuster, one among the leaders in video and DVD rentals, plans to close 500 stores in the coming weeks, according to a report on Reuters.

The closings, which will take place during the first quarter of the year, include a Blockbuster store on Route 130 in East Windsor. There are also stores in East Brunswick, Hillsborough, North Brunswick and Somerset. The fate of those stores is unknown.

The company, which announced an increase in fourth-quarter profits, is shifting from store rentals to subscriber services and Dish Network sales, according to press reports. Dish Network bought the struggling video store chain last year.

Blockbuster had been in chapter 11 bankruptcy before the Dish Network purchase, with revenues falling as consumers changed viewing habits.

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