bsnsBlooper: Blockbuster and Netflix - The Story You DON’T Know — bsnsHistory

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Everyone knows how this story is supposed to end. This time, it doesn't.

Blockbuster CEO John Antioco eliminated the company's unpopular late fees in 2004 and launched Total Access, a hybrid service that competed directly with Netflix and was genuinely working by 2006 and 2007. Activist investor Carl Icahn, who had forced his way onto Blockbuster's board in a 2005 proxy fight, pushed Antioco out in 2007 over a bonus dispute. His replacement gutted the digital strategy within months. Blockbuster filed for Chapter 11 bankruptcy in September 2010, while Antioco quietly profited from Netflix stock he bought with his own exit money.

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