Blockbuster reportedly plans to file something called a "pre-planned bankruptcy" and will continue to pay the studios and other most other major creditors. This development shouldn't surprise anyone. For years, Blockbuster has closed stores, laid off thousands, and generally been tumbling towards extinction. Driving to a video store to rent a movie is rapidly becoming as unnecessary as hiring a travel agent, developing film, or listening to music on compact discs.
While Gizmodo is sad about Blockbuster's rumored impending bankruptcy, I'm still sadder about all the mom-and-pop video stores that closed up during Blockbuster's rise. (And the way they sanitized the video rental scene to the point where the back room of X-rated titles, once a standard in small-town video stores, became virtually extinct. Suck it, family values: Here comes the internet!)