I heard today where starting Jan.1 Blockbuster is getting rid of all late fees on rentels. I would assume it has to do with things liek PPV, Netflix, and the cheaping cost of DVDs bought at stores
<TABLE cellSpacing=0 cellPadding=4 width="100%" border=0><TBODY><TR><TD class=b2iNewsStoryHeadline>BLOCKBUSTER ANNOUNCES THE END OF LATE FEES
Launches New Year's Day 2005
</TD></TR><TR><TD class=b2iNewsStoryBody bgColor=#ffcc00>DALLAS, Dec. 14, 2004 - New Year's is a time for resolutions, and BLOCKBUSTER(r) is making a big one. No more late fees. Blockbuster today announced that as of Jan. 1, 2005, there will be no more late fees charged on any movie or game rental at its more than 4,500 company-operated and participating franchised stores in the United States.
"Doing away with late fees is the biggest and most important customer benefit we've ever offered in our company's history," said John Antioco, Blockbuster Chairman and CEO. "So as of the first of the year, if our customers need an extra day or two with their movies and games, they can take it. Late fees are a thing of the past at Blockbuster."
The end of late fees is the latest in a series of moves by Blockbuster to give customers more ways to rent. Over the past 18 months, the Company has launched in-store movie, in-store game and online DVD subscription programs, which offer customers no due dates, no late fees and an unlimited number of movie or game rentals, up to three at a time depending on the program, for one low monthly fee.
"Now no matter how members choose to rent from us - in-store or online, movies or games, - there are no late fees at Blockbuster," said Antioco.
Under the "no late fees" program, Blockbuster still has due dates -- one week for games and two days or one week for movies. However, if customers need to keep the product an extra day or two, they can, stress-free. Blockbuster now gives customers a one-week grace period at no additional charge. At that point, if customers want to keep the movie or game longer, they can. Blockbuster will automatically sell them the product, less the rental fee. If customers decide they don't want to own the movie or game, they simply return the product within 30 days for a full credit to their account, less a minimal restocking fee.
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