Blockbuster is slashing rental prices as the company prepares to shutter 146 bankrupt Canadian stores.

As of this weekend, thousands of movies can be rented for 99 cents a day, and customers can also rent new releases for $2.99 for one day, with each additional day costing 99 cents. Previously, renters were stuck paying $4.99 for a three-day rental.

"Our customers are seeking a better value. We've answered with new pricing and the flexibility of single day rentals," said Michael Kelly, president of Blockbuster. "Our new pricing gives our customers the best of both worlds: access to the latest releases –- many 28 days before Netflix and Redbox -- and the most movies at low prices."
categories DVDs, Movies