More Bad News For Blockbuster
More bad news for shareholders of Blockbuster Inc. (NYSE: BBI). The company reported late Wednesday that its performance over the holiday season was "well below expectations."
Due to the poorer than expected results, the company said it now expects adjusted earnings before interest, taxes, depreciation and amortization of $195 million to $205 million for 2009, or a net loss of $183 million to $193 million.
The news came on the same day that Google Inc. (Nasdaq: GOOG) announced that it is entering the video rental business through its YouTube unit.
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