image thumb149 Blockbuster in desperate need of cash, sells Xtra vision for $45 Million

If you are out of cash and doing very poor business, what’s one thing you will do? Most probably lookout for items/property to sell and pocket some cash. This is exactly what Blockbuster is up to, the firm has sold Xtra-vision for $45 Million in order to bring home some cash, which is much needed to stay in competition. Xtra-vision is a chain of around 200 retail locations in Ireland and the sell off quite rightly means that Blockbuster is more interested focusing its business in the U.S instead of scrambling all across the globe. Sounds good enough but will this really work for them in the long run? I guess Blockbuster has to move ahead of its rental by  mail service and adopt a more competitive dynamics to remain profitable.