theodp writes: It's official — the Internet Killed The Video Star. The Guardian reports that Blockbuster has filed for Chapter 11 bankruptcy protection in the US, after being hammered by online rental film services such as Netflix and DVD mail order companies. But the company, which Viacom purchased in 1994 for $8.4 billion, is expected to swiftly re-emerge after a restructuring deal was agreed with creditors who include billionaire Carl Icahn. Remember to always sell high, kids!
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