rumours

With Blockbuster filing for bankruptcy protection next week, we lose an institution, a part of our culture for so many years, and lead the way to a possible monopoly of Netflix and or Hulu with their online streaming strategies.  Redbox’s surge to acceptance can not be ignored as well.

From Digital Media Wire:

Los Angeles - Video rental giant Blockbuster(NYSE: BBI) told the six major movie studios that it is preparing to file for bankruptcy next month, the Los Angeles Times reported, citing sources. The company is strapped with nearly $1 billion in debt and unwanted leases on more than 500 of its underperforming rental store locations, and has lost a total of $1.1 billion since the outset of 2008.

Blockbuster is likely to enter a “pre-planned bankruptcy,” wherein many creditors are included in the process before the court weighs in.

The company, which has already shuttered more than 1,300 stores, has faced increasing competition in DVD rentals from Netflix and Redbox, and in the home video market from pay-TV video-on-demand, as well as online services like iTunes.

After Yahoo CEO Jerry Yang announced its earnings back on October 21, It was also announced that yahoo intended to layoff approximately 10% of the company or about 1500 jobs.  All things Digital reports the layoffs could reach 2000 by this Wednesday.

“Things have changed since these layoffs were announced,” said one source close to the situation. “But those additional cuts might not come Wednesday, but through attrition and a hiring freeze first.”

Yang, who agreed to step down from the helm at yahoo last month, has yet to leave.  It may be the perfect time for yahoo to announce his replacement and take the focus off this continual stream of bad news….

Time for the Microsoft acquisition rumor mill to start again…..  After all, it’s just business…

In the wake of Yahoo hiring Bain & Co to help make process and structural changes to the company, the rumoured Yahoo re-org is likely to be anytime now.

“we’re continuing the work already underway to get fit as an organization: actively looking for ways to make process and structural changes to our business that will allow us to work more efficiently, with more scale. we’ve enlisted the help of Bain & Co. to work with the leadership team on identifying ways to leverage our strengths, and to improve and accelerate our performance”.

Full Jerry Yang memo on Valleywag