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Blockbuster closing all corporate retail stores in the US by January

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Blockbuster parent company Dish Network will close all remaining corporate-owned Blockbuster retail locations in the U.S. by early January 2014, Dish announced today.

The company will also end Blockbuster's DVD by mail service by mid-December and shutter its distribution centers. The closure of approximately 300 stores will not have an effect on franchise or licensed retail stores in the U.S. or abroad.

Dish will retain Blockbuster licensing rights and assets like the company's video library. It will also continue to operate the Blockbuster @Home service, which offers premium TV channels and streaming movies, as well as the Blockbuster On Demand streaming service.

"This is not an easy decision, yet consumer demand is clearly moving to digital distribution of video entertainment," said Joseph P. Clayton, Dish president and chief executive officer. "Despite our closing of the physical distribution elements of the business, we continue to see value in the Blockbuster brand, and we expect to leverage that brand as we continue to expand our digital offerings."

Last week, the U.K. arm of Blockbuster entered administration for the second time this year.