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Finding no buyers for its last few stores, Blockbuster concedes an inevitable, crushing defeat

In the long, drawn-out saga of Blockbuster Canada’s demise, today marks a grim day for the national movie rental chain: already under a court-ordered receivership, the company is set to shut down all of its few remaining operations. Blockbuster’s folding isn’t just the work of YouTube, Netflix and piracy (we’re pretty sure that the worldwide recession did a lot of the heavy lifting), but it is a fairly impressive sign of how the film market is changing. HMV, for one, is downsizing, including the store at Yonge and Dundas, YouTube Canada just announced it will start renting movies and, in general, the movie retail industry doesn’t look much in 2011 like it did in 2001. Read the entire story [CBC] »