Blockbuster to Close a Third of Its Stores

Blockbuster, once among the leaders in video and DVD rentals, plans to close 500 stores in the coming weeks, according to a report on Reuters.

The closings, which will take place during the first quarter of the year, include a Blockbuster store on Route 130 in East Windsor. The fate of the Toms River store on Route 37 near Route 166 is unknown. on Fischer Boulevard in Toms River and on have closed in the last two years.

The company, which announced an increase in fourth-quarter profits, is shifting from store rentals to subscriber services and Dish Network sales, according to press reports. Dish Network bought the struggling video store chain last year.

Blockbuster had been in chapter 11 bankruptcy before the Dish Network purchase, with revenues falling as consumers changed viewing habits.