NetFlix Takes Out Blockbuster

On the same day that NetFlix launched its product into Canada, Blockbuster announced it is filing for Chapter 11 (bankruptcy) in the United States. Can that filing be coming up in Canada too?

Is this not a case of out with the old and in with the new?

Blockbuster became obsolete years ago, around the same time record stores like Sam the Record Man, HMV and Sunrise began to realize they were no longer a viable option.