Blockbuster's woes are no secret: People have stopped going out to rent movies, opting instead to use mail order service Netflix or online alternatives such as iTunes.
Struggling to adjust to the new competitive environment, Blockbuster lost $550 million last year and closed hundreds of stores. The company continues to resist bankruptcy, but,
given its high debt level and low credit rating, investors aren't confident -- the stock has traded below $1 for months.
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