Blockbuster will officially fold as of January since DISH has decided to end its retail and mail DVD operations, Entertainment Weekly reported.
"This is not an easy decision, yet consumer demand is clearly moving to digital distribution of video entertainment," DISH's president and chief executive officer Joseph P. Clayton said in a statement. "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."
Blockbuster By Mail services will continue serving customers until it ends in mid-December, said a press release. The company's around 300 brick-and-mortar locations and its distribution centers will close by early next year.
"It's the end of an era," Entertainment Weekly described.
The "significant" Blockbuster video library as well as the brand's licensing rights and key assets will be retained by DISH. The brand's two digital video services, Blockbuster @Home and Blockbuster On Demand, will continue as normal.
The company had already sold off most of its assets in the U.S. and internationally as movie rentals crossed over to digital distribution, Defamer reported.
DISH, which purchased the failed Blockbuster chain in a bankruptcy auction in 2011 for $320 million, will lay off as many as 2,800 employees, according to Reuters.
Founded in 1985 as video cassette players became fixtures in U.S. homes, Blockbuster sank during the past several years as it failed to compete with streaming services from Netflix and Apple's iTunes.
Blockbuster's new website acknowledges the shift while looking to the digital future:
"You've known us for years, but who are we now? Well, we're different. We've grown. We've changed. Still, one thing has remained the same: We love movies. And now we're taking that love to the next level ... We want you to enjoy that classic grab-a-movie-and-go experience on your TV, tablet, computer, or phone. This is Blockbuster now. Nice to meet you, again."
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