Blockbuster to File for Bankruptcy Next Month?

Blockbuster, Inc.

could file for bankruptcy as early as next month, according to sources familiar with the situation. An Engadget.com report notes that "According to several sources speaking to the Los Angeles Times, Blockbuster chief executive Jim Keyes along with representation from Blockbuster's senior debt holders met last week with the six major movie studios to announce the company's intention to enter a mid-September bankruptcy." Further, Thomas Ricker of Engadget comments: "In its fight to remain relevant in the age of digital downloads / streaming, Blockbuster has lost $1.1 billion since early 2008. It's expected that Blockbuster's debt holders will likely own a substantial portion of the company when all is said and done." Blockbuster Inc. is a global provider of rental and retail movie and game entertainment. In over-the-counter trade, Blockbuster shares are down 34%, to $0.073. Get free trades at