By Aimee Chanthadaovng
Remaining Blockbuster retail stores in the U.S are being closed by its owner Dish Network Corporation.
Approximately 300 stores will be closed, as well as its distribution centres. Its Blockbuster DVD By Mail Service will also end by early-January 2014.
"This is not an easy decision, yet consumer demand is clearly moving to digital distribution of video entertainment," said Joseph Clayton, Dish president and chief executive officer.
"Despite our closing of the physical distribution elements of the business, we continue to see value in the Blockbuster brand, and we expect to leverage that brand as we continue to expand our digital offerings."
Over the past 18 months, Blockbuster has divested itself of assets in the United States, as well international assets, including operations in the United Kingdom and Scandinavia. Dish will continue to support Blockbuster's domestic and international franchise operations, relationships and agreements.
The company will also retain licensing rights to the Blockbuster brand, and key assets, including the company's significant video library. It will focus on delivering the Blockbuster @Home service to Dish customers and on its transactional streaming service for the general market, Blockbuster On Demand.