Blockbuster’s Movielink Service Reports Loss
Dallas, Blockbuster’s newly acquired video downloading service, Movielink, lost $10.18 million in the first half of 2007, according to the company’s 8-K filing.
Although Blockbuster reports its earnings for its third quarter Nov. 1, the company filed its 8-K report on Wednesday, to inform investors that its newest venture suffered a loss.
Dallas-based Blockbuster acquired Movielink in August for $6.6 million.
Movielink’s loss for the same six-month period in 2006 was $11.6 million, according to the filing with the Securities and Exchange Commission. The company’s revenue to June 30 was $1.98 million, up from $1.92 million a year ago.