DALLAS -- Waiting for the opportunity to be sold off by parent company Viacom, New York, and following an attempted linkage with major competitor Hollywood Entertainment, Portland, Ore., Blockbuster Inc. here last week restructured its business into three separate operating units.
The three divisions will be Blockbuster Worldwide Store Operations for the company's retail business, Blockbuster Entertainment Technologies for the Blockbuster.com e-commerce site and a New Media Group set to explore electronic home delivery options, and Blockbuster Business Solution, which will market the company's database, brand and media assets to other businesses.
Nigel Travis will be president of the retail unit, Shellye Archambeau will be president of e-commerce, Santo Politi will be president of the new media venture, and Greg Smogard will be president of business solutions. All will report to John Antioco, chairman and chief executive officer of Blockbuster Inc.
"According to industry analyst Paul Kagan and Associates, in-home movie consumption will increase by around 45% over the next eight years, which is a huge opportunity for Blockbuster," said Antioco.
"With our brand, our retail store base, our customer database, marketing, studio relationships and distribution, Blockbuster is perfectly positioned to deliver movies to people at home however they want to receive them... This change will create new levels of value for our shareholders."