Dish is said to be closing down 300 Blockbuster stores in the U.S.
(Credit: Blockbuster)
As more Blockbuster video rental stores slip into the red, its parent company Dish Network has decided to shutter 300 stores across the U.S., according to Reuters. The closing of these stores could mean that as many as 3,000 employees would also be laid off.
After Dish bought Blockbuster in 2011, for $320 million, the company said it planned to keep 1,500 of the chain's rental stores open and maintain 15,000 employees. However, with profits dropping, and with video streaming and downloading popping up all over the place, Dish ended up keeping only about 850 locations open.
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