Blockbuster’s (BBI) CEO John Antioco is leaving. He has battled with the company’s big shareholder Carl Icahn about everything from his bonus to his strategy.
Blockbuster is constantly under siege. First it was NetFlix (NFLX) and selling DVDs over the internet to be sent through the mail. Blockbuster countered with its own service.
Then the Blockbuster model got a little more disruption. Apple (AAPL), Movielink, Amazon (AMZN), and a host of other companies are delivering movie digitally and often over the internet.
And, BBI is left with a lot of stores and a lot of employees that it does not need.
Antioco was actually a guy who did a lot with very little to work with. BBI stock moved up to over $7 recently from a 52-week low of $3.30.
Now he is leaving. And Icahn gets to stay behind with the problems.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
