At least that is what the rumor is because they have hired advisory firm Kirkland & Ellis LLP to go over its options.
Bloomberg reported Tuesday on its Web site, citing a person familiar with the situation. Kirkland & Ellis LLP was asked to evaluate restructuring options for the movie rental company, which may include a "pre-packaged" or "pre-arranged bankruptcy," the news agency said. Blockbuster shares were down 76% to 23 cents before trading was halted.
It looks like Netflix may have won the video rental war at long last. Netflix stock is booming today because of it as well.
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