Water Mill Blockbuster to Close

Signs went up at the at the Water Mill Commons recently revealing that the video rental store is closing down.

Dish Network, which bought Blockbuster in 2011, announced in February that more than 500 of the 1,500 remaining retail locations of the troubled business would close during the first half 2012, according to Home Meda Magazine.

This Blockbuster location avoided the axe in that round of closings, but now it is slated to be shuttered on Oct. 14. The next closest Blockbuster, in Hampton Bays, was not as lucky. It .

Everything remaining in the store is being sold off and DVDs are marked down to between $1 and $7.99. After the store closes, cardholders will receive two free months of Blockbuster's by-mail rental service, according to a sign posted in the store.

During its last days, the store will be open from 11 a.m. to 9 p.m. on Sundays through Thursdays, and from 10 a.m. to 10 p.m. on Fridays and Saturdays.

Blockbuster is facing an assault from all types of rental services. Rivals such as Netflix and the Redbox DVD and Blu-Ray vending machines seen in grocery stores and outside 7-Elevens have cut into territory Blockbuster once monopolized. Amazon.com's Instant Video service and Apple's iTunes also offer video downloading.

Combine those options with websites like Hulu that offer streaming video and customers now have a variety of choices aside from traveling to a brick-and-mortar location.