Blockbuster Finish for Antioco.(John Antioco retires from Blockbuster)

Multichannel News, March, 2007 by Farrell, Mike

By Mike Farrell Investor-Pressured CEO to Step Down At End of the Year After 10 years at the helm -- the last two spent in a very public fight with corporate raider Carl Icahn -- Blockbuster CEO John Antioco threw in the towel, agreeing to resign at the end of the year. Antioco, who led the video retail giant through fat and lean years -- the last few increasingly lean -- agreed to a severance package that will net him about $8 million.

Blockbuster, once a key part of entertainment giant Viacom before the latter spun off its 81% interest to its shareholders in 2004, had fallen on hard times in the past few years as customers increasingly opted to rent and purchase videos from other distribution platforms such as mail-order retailer Netflix....

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