Blockbuster takes on Netflix with mail-only plans

Blockbuster Inc. introduced a new Internet-only DVD rental service on Tuesday priced below a similar Netflix Inc. plan, sending shares of Netflix down almost 8 percent as the online movie rental war heated up again.

Shares of Blockbuster, the No. 1 video rental store chain, fell about 1.5 percent after it rolled out an unlimited three-DVDs-out-at-a-time plan at $16.99 -- $1 cheaper than Netflix's most popular plan.

The two companies have been battling over the fast-growing online DVD rental market since 2004, when Blockbuster launched its online rental service to compensate for shrinking store rental revenue.

Read Full Article from Reuters.uk

- Posted: 2007-06-13 09:54:35

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