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Studios Fight Blockbuster for Millions in Unpaid Fees
Thursday February 24th 2011Studios are lining up to get what they can from bankrupt Blockbuster.
On Wednesday, Universal Pictures joined 20th Century Fox and Summit Entertainment in submitting a claim for millions of dollars in unpaid fees.
In Universal’s case, the DVD-rental chain owes the studio $6.4 million, according to a filing, and it is at risk for an additional $7 million due soon.
Universal seeks immediate payment or asks that Blockbuster return the DVDs it hasn’t paid for.
Summit says Blockbuster owes it $9.5 million and Fox says it’s owed $7 million, though not for another few months.
Blockbuster is struggling for its life as it tries to keep its doors open long enough to find a buyer for the company.
Blockbuster already has a $290 million bid from a group of investors, but it is hoping for something more. The existing bid calls for Blockbuster to shut down another 609 of its estimated 3,300 stores.
Front Page, Industry News
Studios Fight Blockbuster for Millions in Unpaid Fees
Thursday February 24th 2011Studios are lining up to get what they can from bankrupt Blockbuster.
On Wednesday, Universal Pictures joined 20th Century Fox and Summit Entertainment in submitting a claim for millions of dollars in unpaid fees.
In Universal’s case, the DVD-rental chain owes the studio $6.4 million, according to a filing, and it is at risk for an additional $7 million due soon.
Universal seeks immediate payment or asks that Blockbuster return the DVDs it hasn’t paid for.
Summit says Blockbuster owes it $9.5 million and Fox says it’s owed $7 million, though not for another few months.
Blockbuster is struggling for its life as it tries to keep its doors open long enough to find a buyer for the company.
Blockbuster already has a $290 million bid from a group of investors, but it is hoping for something more. The existing bid calls for Blockbuster to shut down another 609 of its estimated 3,300 stores.
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Front Page, Industry News
Studios Fight Blockbuster for Millions in Unpaid Fees
Thursday February 24th 2011Studios are lining up to get what they can from bankrupt Blockbuster.
On Wednesday, Universal Pictures joined 20th Century Fox and Summit Entertainment in submitting a claim for millions of dollars in unpaid fees.
In Universal’s case, the DVD-rental chain owes the studio $6.4 million, according to a filing, and it is at risk for an additional $7 million due soon.
Universal seeks immediate payment or asks that Blockbuster return the DVDs it hasn’t paid for.
Summit says Blockbuster owes it $9.5 million and Fox says it’s owed $7 million, though not for another few months.
Blockbuster is struggling for its life as it tries to keep its doors open long enough to find a buyer for the company.
Blockbuster already has a $290 million bid from a group of investors, but it is hoping for something more. The existing bid calls for Blockbuster to shut down another 609 of its estimated 3,300 stores.
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