1. John Antioco is an American businessman, known for being the former CEO of the now bankrupt Blockbuster Video who missed an opportunity to purchase Netflix before it became a multi-billion dollar streaming platform.
24 Facts About John Antioco
1. 2.
John Antioco is chairman of the board of directors at BRIX Holdings LLC and the Managing Partner of JAMCO Interests LLC.
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John Antioco was born and raised in Brooklyn, New York.
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John Antioco's father was a milkman, whom Antioco would sometimes accompany on his morning delivery route.
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John Antioco was chairman when Rave sold 32 of its theaters to Cinemark in November 2012 for approximately $240 million.
6.
John Antioco began his professional career at 7-Eleven, which he joined as a management trainee in 1970.
7.
John Antioco was at the company for 20 years, in various roles.
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John Antioco was Senior Vice President of Operations, which meant he was in charge of operations for all 7-Eleven stores worldwide.
9.
John Antioco left 7-Eleven in 1990 to become COO at Pearle Vision.
10.
Circle K had filed for bankruptcy in May 1990 and John Antioco was brought in to streamline the company's operations.
11.
In March 1992, at which point John Antioco had become the company's CEO, Circle K was sold for approximately $425 million to a private investor group led by management in conjunction with Investcorp.
12.
In 1994, as CEO John Antioco took Circle K public, selling 6.5 million shares of stock on the New York Stock Exchange.
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John Antioco left Circle K in 1996, shortly after overseeing a $710 million sale of the company to Tosco Corp.
14.
John Antioco decoupled Blockbuster Music from its video division, putting it under separate management.
15.
In 1998, John Antioco entered Blockbuster into ground breaking revenue-sharing agreements with Hollywood studios, which allowed its stores to obtain many copies of new releases at a lower price than their competitors and rectify the problem of unavailability of recently released Hollywood movie hits.
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In 2004, John Antioco oversaw the launch of a new DVD subscription service called Blockbuster Online.
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In 2007, John Antioco pushed to expand the service and rebranded it as Blockbuster Total Access, which in addition to offering online DVD rentals, allowed customers to return a Blockbuster Online DVD to a brick and mortar Blockbuster store to receive one additional free rental.
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Under John Antioco, Blockbuster launched these services in part to compete with Netflix, which at the time was a growing competitor in the video retail space.
19.
John Antioco has disputed this version of events, stating that he never had discussions with Hastings or Randolph about acquiring Netflix at that time.
20.
John Antioco preferred a full merger, and a deal between the two companies was never struck.
21.
John Antioco left Blockbuster in 2007 due to strategy disagreements with Blockbuster board members over the continued support for the expansion of Blockbuster online business, most notably billionaire investor Carl Icahn, regarding the company's strategy.
22.
In February 2010, John Antioco founded, and is the Managing Member of JAMCO Interests, a private equity firm that invests in retail and hospitality ventures.
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JAMCO is a member of TriArtisan Partners, an investment group that owns TGI Fridays, where John Antioco served as interim Chairman and CEO in 2015.
24.
John Antioco is currently Chairman of Brix Holdings, a position he has held since 2013.