×
You will be redirected back to your article in seconds

B’buster.com cancels IPO

Site offers info on movies, vid clips

Blockbuster.com has opted against an initial public offering on the stock market in the wake of its deal with broadband distribution company Enron.

Last month, Blockbuster announced it would team with Enron Broadband Services to distribute movies on demand via the Dallas-based company’s high-speed network.

The alliance provides backbone to Blockbuster.com, which needed such a partner to make an imprint in the broadband arena. The movies-on-demand service, as outlined in a 20-year deal, would work on a pay-per-view model and could be delivered to either TV sets or home computers. The service is expected to launch in select cities by the end of the year.

Info and e-tail

Blockbuster.com currently provides Netizens with information about new releases at brick-and-mortar stores, video clips on recent releases and an e-commerce store.

Blockbuster.com isn’t the only entertainment company to rethink plans to enter the stock market since the Nasdaq nosedive in April. Fellow Viacom subsid MTVi Group, which filed an intent for an IPO in February, has since cooled to the idea — although it has yet to officially withdraw with the Securities & Exchange Commission.

Shares of Blockbuster were up almost 3% Monday to close at $10.88. The one-year trading high for the company is $17.13. Shares of Enron also closed up almost 3% to $80.27.

(Reuters contributed to this report.)

More Digital

  • The Lego Movie

    'The Lego Movie' Streaming Free on YouTube on Black Friday

    Blockbuster.com has opted against an initial public offering on the stock market in the wake of its deal with broadband distribution company Enron. Last month, Blockbuster announced it would team with Enron Broadband Services to distribute movies on demand via the Dallas-based company’s high-speed network. The alliance provides backbone to Blockbuster.com, which needed such a […]

  • Matthew McConaughey White Boy Rick

    Matthew McConaughey Wants to Make You Fall Asleep, Partners With Calm App

    Blockbuster.com has opted against an initial public offering on the stock market in the wake of its deal with broadband distribution company Enron. Last month, Blockbuster announced it would team with Enron Broadband Services to distribute movies on demand via the Dallas-based company’s high-speed network. The alliance provides backbone to Blockbuster.com, which needed such a […]

  • Google Play

    Google Play Offers 99-Cent Rentals on All Movies, Only on Thanksgiving Day

    Blockbuster.com has opted against an initial public offering on the stock market in the wake of its deal with broadband distribution company Enron. Last month, Blockbuster announced it would team with Enron Broadband Services to distribute movies on demand via the Dallas-based company’s high-speed network. The alliance provides backbone to Blockbuster.com, which needed such a […]

  • Amazon

    Amazon Tells Customers Their Info Was Exposed Due to 'Technical Error'

    Blockbuster.com has opted against an initial public offering on the stock market in the wake of its deal with broadband distribution company Enron. Last month, Blockbuster announced it would team with Enron Broadband Services to distribute movies on demand via the Dallas-based company’s high-speed network. The alliance provides backbone to Blockbuster.com, which needed such a […]

  • TwitchCon Expands to Europe in 2019

    TwitchCon Expands to Europe in 2019

    Blockbuster.com has opted against an initial public offering on the stock market in the wake of its deal with broadband distribution company Enron. Last month, Blockbuster announced it would team with Enron Broadband Services to distribute movies on demand via the Dallas-based company’s high-speed network. The alliance provides backbone to Blockbuster.com, which needed such a […]

  • Mark Zuckerberg Facebook

    Mark Zuckerberg Says He Has No Plans to Resign as Facebook Chairman

    Blockbuster.com has opted against an initial public offering on the stock market in the wake of its deal with broadband distribution company Enron. Last month, Blockbuster announced it would team with Enron Broadband Services to distribute movies on demand via the Dallas-based company’s high-speed network. The alliance provides backbone to Blockbuster.com, which needed such a […]

  • George R.R. Martin's 'Nightflyers' on Syfy

    Syfy Promotes George R.R. Martin's 'Nightflyers' With VR Three-Parter

    Blockbuster.com has opted against an initial public offering on the stock market in the wake of its deal with broadband distribution company Enron. Last month, Blockbuster announced it would team with Enron Broadband Services to distribute movies on demand via the Dallas-based company’s high-speed network. The alliance provides backbone to Blockbuster.com, which needed such a […]

More From Our Brands

Access exclusive content