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Blockbuster Hopes To Poach Netflix Customers

  • Reuters, Friday, September 23, 2011 1:30 PM
Missteps by Netflix have opened the door to competitors to grab angry customers looking for new options for video rentals and instant online streaming of TV shows and films. Blockbuster, the once-dominant video store chain that Netflix helped nudge into bankruptcy, wants to compete. Now a unit of Dish Network, Blockbuster is expected to announce its jump into the streaming market on Friday.

Netflix is facing a subscriber backlash over its price increases; shares have fallen 50% in two months. "It's the right time for Blockbuster," said Brean Murray analyst Todd Mitchell, who has a "buy" rating on Dish shares. Blockbuster is gunning for unhappy Netflix customers with a free-trial offer. Dish is also a possible suitor for Hulu, alongside Google, DirecTV Group and Amazon.

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