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Aug 12, 2024 · Kinney Shoes opened in 1894. It had 467 stores at its peak, all of which shuttered in 1998. Glen Martin/The Denver Post via Getty Images. Source: LA Times. In 1992, Blockbuster acquired the Sound Warehouse and Music Plus music chains and created Blockbuster Music. The chain was sold to Wherehouse entertainment in 1998 before closing for good ...
Aug 16, 1998 · Up from the deep: Torrance, CA-based Wherehouse Entertainment announced last week that it will purchase Blockbuster Music from Viacom Inc. for $115 million. The merged operation will have 598 stores throughout North America, second only to Minnesota-based Musicland.
- History of Blockbuster Inc.
- Chronology
- Additional Details
- Further Reference
Blockbuster Inc. is the largest video rental chain in the world provi ding in-home rental, retail movie, and game entertainment. Blockbuste r operates about 9,100 video stores, serving approximately three mill ion customers each day in the United States, its territories, and 24 other nations. Founded in the mid-1980s as an alternative to small, l o...
Key Dates:1985:The first Blockbuster video store opens in Dallas.1986:Blockbuster goes public.1987:Founder David Cook leaves the company; company headquart ers move to Fort Lauderdale.Public CompanyIncorporated:1982 as Cook Data ServicesEmployees:84,300Sales:$6 billion (2004)Anderson, Stephanie, and Tom Lowry, "Blockbuster: The Sequel Revived,"Business Week,September 16, 2002, p. 52."Big Blue Hastens Rollout of Online Subscriptions,"Executive Quote and Information Service,July 26, 2004.Calonius, Erik, "Meet the King of Video,"Fortune,June 4, 1990, p. 208.Castle, Steven, "Wayne's World,"Robb Report,February 199 3.In August 1998, Wherehouse purchased Blockbuster Music from Viacom. [10] The company filed for Chapter 11 bankruptcy in 2002. In 2003, Trans World Entertainment purchased the remaining 148 Wherehouse stores for $41 million (~$65.1 million in 2023) in cash and assumed liabilities while closing 35 under-performing stores. [ 11 ]
Oct 20, 1992 · Blockbuster agreed yesterday to buy the 236 music stores in the Sound Warehouse and Music Plus chains from Shamrock Holdings, an investment firm in California, for $185 million in cash and...
Aug 12, 1998 · Viacom Inc. on Tuesday agreed to sell its lackluster Blockbuster Music chain to Torrance-based Wherehouse Entertainment Inc. for $115 million in cash, in a deal that would catapult Wherehouse...
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Aug 12, 1998 · Viacom Inc. said yesterday that it had sold its chain of Blockbuster Music stores to Wherehouse Entertainment Inc. for $115 million in cash, shedding a business that had not met expectations....
