There was just too much downside and not enough upside to justify this merger - even Icahn's ambition couldn't turn water into wine.
Speculation's already begun on what Blockbuster's Plan B is.

I read comments on another site that basically suggest BluRay might be Blockbuster's saving grace if they help push it to market. It stands as one of the biggest potential advantages over the VOD industry that's chipping away - and even BluRay isn't a long-term solution.