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October 18, 2004
The High Cost of Dragraces
Wow. Here's another apt article in today's USA today. This time about the opposite of stealth. It's about the growing dragrace between Netflix and Blockbuster, and the high cost of running it... a full fledged price war and all that entails:
* Netflix lowered its monthly rate to $18 from $22 starting next month.
* Now Blockbuster will cut the price of its recently launched online service to about $17.50, from $19.
* Netflix stock plummeted nearly 41% on Friday, with shares closing at $10.30.
* Bad enough? Now, Amazon might join both Blockbuster and Walmart. Hoo boy.
* Now is it a juicy potential takeover target. Amazon? Yahoo? Barry Diller?
Moral: be careful of dragraces, especially with guys who have lots of gas and powerful cars.
Posted by johnza at October 18, 2004 06:23 PM
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