There were accusations of sexual harassment and discrimination in the workplace, as well as an intellectual property lawsuit from Waymo and accusations of corporate espionage from Lyft. Dallas, TX (August 18, 2011) — Rave Cinemas, LLC (“Rave”) today announced that John F. Antioco, a Director of Rave and the former Chairman and Chief Executive Officer of Blockbuster Inc., wil… This is true, to an extent, although there are a number of notable cases which suggest that getting rid of a truly bad CEO dramatically improves it. Rumor has it Hastings was practically laughed out of the boardroom each time he made an offer to Antioco, who was known to be a tough negotiator.Dish Network, the third-biggest U.S. pay-TV operator bought Blockbuster in 2011 for $320 million (you could have had Netflix for only $50 million), tried to keep the brand relevant and the stores open, but by 2014, all outlets officially closed.Next, and quite late to the party, Blockbuster tried to launch its own DVD-by-mail business and rental kiosks but found it hard at that point to compete against Netflix and Redbox.Now, some might say that at the time Antioco was being a smart businessman. Back then, most people did not know about, or care about Reed Hastings and his little company known as… Netflix. The company’s stock price gained in 2006, but remains worth a small fraction of its high mark of nearly $30 a share in 2002. She intended to do this by acquiring as many innovative fledgling internet companies as possible, making 53 acquisitions worth $3 billion.
Chief Executive John Antioco, 62, will leave the Dallas-based company by the end of the year, having received $8 million in bonus and severance by then. Sculley’s regime was notable primarily for infighting among its leadership and a number of expensive failures such as the Apple Newton. After all, Netflix was losing money back in the early aughts. Sculley also made a number of dubious strategic decisions, including raising the price of the Macintosh when personal computer prices were falling, refusing to license the Mac operating system, ignoring the corporate market, and chasing high profit margins at the expense of high market share. However, they had introduced their own online platform, Total Access, and the option of being able to take DVDs you rented back to a Blockbuster store was proving popular. Mayer got a payout believed to be in the region of $260 million that few would argue is deserved.Read about the latest technological developments and data trends transforming the world of gaming analytics in this exclusive ebook from the DATAx team.Sign up for This Week In Innovation to stay up to date with all the news, features, interviews and more from the world’s most innovative companiesThe worth of AOL Time Warner stock dropped by 90% over the next decade, with AOL being spun out as a separate company again. Think about it, a huge portion of the revenue Blockbuster needed to stay in business was a revenue stream Netflix didn’t even have. With the exception of Tumblr, none of Yahoo’s acquisitions made so much as a ripple on the consumer radar. Moreover, Mr. Hartung’s analysis doesn’t approach the issues as a manager would, with an examination of profitability, competitive position, strategic options and so on.There are other problems with Mr. Hartung’s analysis as well. Back in 2000, Reed Hastings approached the former Blockbuster CEO John Antioco and asked for $50 million to take the company he founded, Netflix.