--(www.USEquityNews.com)-- 08/11/2008 - Video Store industry alert provided by U.S. Equity News. Blockbuster Inc. (NYSE: BBI) recently reported financial results for the second quarter ended July 6, 2008. Total revenues for the second quarter of 2008 increased 3.3%, or $41.3 million, to $1.30 billion, as compared to the second quarter of 2007. Net loss for the second quarter of 2008 was $41.9 million, or $0.23 per share, as compared with a net loss of $31.4 million, or $0.18 per share, for the second quarter of 2007, which included an $81.3 million gain on asset sale.
Band From TV, a spirited rock-and-roll group comprised of performers from some of television's most popular shows, will take center stage and be joined by stars Teri Hatcher, Hayden Panettiere, Kristen Bell and Adrian Pasdar on August 9 as part of the Netflix LIVE! On Location (http://www.netflix.com/liveonlocation) outdoor concert and screening series. In their largest public performance ever, the band will perform at the free, family-oriented event, which will take place on the grounds of the Autry National Center in Los Angeles and include a screening of classic television programs from the extensive library of TV content offered by Netflix (NASDAQ: NFLX).
The chairman and co-founder of payday lender Advance America Cash Advance Centers (NYSE: AEA) Inc. has stepped down, citing "personal reasons," the company said Wednesday. George Dean Johnson, 67, resigned from the board of directors of the Spartanburg-based business on Tuesday. William M. Webster IV, who also co-founded the company and most recently served as its vice chairman, will replace Johnson at the helm, spokesman Jamie Fulmer said. Fulmer did not elaborate on the reasons for the departure but said Johnson, who also is a co-founder of Blockbuster Video, remains Advance America's largest shareholder.
Archer Entertainment (OTC: AEMC) has established its proprietary, branded, global multimedia store www.archer.12buzz.com/store/, which is now open for business. Internet shoppers can purchase DVDs, music, MP3 downloads, TV programs, video downloads and more from all over the world. "Our multimedia store is powered by Amazon.com and Archer's strategic partner in Asia, 12buzz.com," said Michael Selsman, Archer CEO. 12Buzz is ranked at 7,700 in World Wide Web traffic, by Alexa, www.alexa.com, making Buzz one of the world's most popular web sites, and expects to be in the top three across Asia within the next few months, competing directly with Yahoo!, Google, MSN and Baidu, and can be found on more than 10,000 PCs in Internet Cafes in Thailand and as the home page on over 210,000 PCs in Internet Cafes in China and projects that number to rise to 500,000 this year. Buzz expects to deliver over 500m ads in August based on current levels and growth.
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