Blockbuster may soon file for bankruptcy: Report

August 31, 2010

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Sources are telling theLos Angeles Timesthat Blockbuster Inc. is preparing to file for bankruptcy this month. Blockbuster's CEO Jim Keyes held individual meetings with executives at top studios recently to discuss plans.

The troubled DVD rental chain has been unable to fend off competition from Netflix and redbox, the growing DVD-rental kiosk operator. NCR Corp. operates about 7,000 DVD-rental kiosks under the Blockbuster name in a licensing deal.

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