DALLAS — The growing popularity of Netflix, Hulu and other on-demand video rental services continues to take a toll on traditional brick-and-mortar video rental stores.
Dish Network reported that its subsidiary, Blockbuster will close about 300 of its stores in the United States in the coming weeks. The closures will result in the loss of about 3,000 jobs and leave the chain with some 500 U.S. locations.
The closures will affect underperforming stores or those nearing the end of their lease. Specific locations have not yet been announced.
Dish, a satellite pay-TV provider, acquired Blockbuster and about 1,700 stores in a bankruptcy sale in 2011. It closed about 500 Blockbuster stores last year.