Blockbuster will close as many as 960 stores to cut costs amid fierce competitionDALLAS — Blockbuster is planning to close as many as 960 stores by the end of next year. That would shrink the video rental chain by more than 20 percent as it struggles against stiff competition from Netflix and Redbox. Qwest 2nd-quarter earnings rise 18 percent on one-time tax savings; revenue slideNEW YORK — Qwest Communications International Inc.’s second-quarter earnings rose 18 percent because of one-time tax savings, even as revenue continued to slide as customers abandon landline telephones, the phone company said Wednesday. Netflix 1Q profit soars 68 percent as 920,000 new customers sign up for DVD rental serviceSAN JOSE, Calif. — Netflix Inc.’s first-quarter profit soared as more people signed up for its DVD-by-mail service than in any other three-month period in its history, an achievement apparently driven by consumers’ desire for cheaper forms of entertainment during the recession. |
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