Finally! Admission of wrongdoing! After years as Blockbuster's largest shareholder, Carl Icahn, who at one point amassed some 17 million shares of the now-bankrupt company, has called Blockbuster "the worst investment I ever made."
Blockbuster is currently searching for a new CEO. Who should they select? How can Blockbuster remake itself to compete with Netflix, Redbox, Apple, and the whole slew of companies that caused its demise?
While it may feel like an all out tug-of-war between Blockbuster and Netflix, don't forget they aren't the only companies battling for market share. Redbox is fighting for kiosk space. Apple, Amazon, and Comcast are competing for movie download purchases. And Hulu will soon start its subscription-based service. Blockbuster is trying to fend off all these competitors, even as the company is mired in debt.