Wayne Huizenga
About
Biography
Filmography
Family & Companions
Biography
H. Wayne Huizenga is a self-described "deal junkie" whose empire was literally built on garbage -- collection, that is -- and who may not have invented video stores, but took a 19-chain Blockbuster Video and turned it into an American institution while eventually merging with Viacom to become vice chair of a media conglomerate which includes Paramount Pictures. Prior to the merger, Huizenga's holdings included more than 4,000 video and music stores, a majority stake in Spelling Entertainment, a 37% stake in Republic Pictures, a one-quarter stake in Discovery Zone's FunCenters, a new technology joint venture with IBM, not to mention ownership of the Florida Marlins baseball team, the Florida Panthers hockey team, 15% ownership of the Florida Marlins, and half-ownership of Joe Robbie Stadium, home of the Marlins and the Dolphins. Born in Illinois, but a resident of Ft. Lauderdale, FL, since he began high school, Huizenga began in business at age 23 after military service when he bought a waste hauling truck and won commercial clients. He worked from 2:30 a.m. until noon each day and spent the rest of the day soliciting new business. By 1971, Huizenga had formed Waste Management, Inc., which became the largest waste collection and disposal company with revenues of more than $9 billion. Huizenga resigned from the company in 1984 to pursue other opportunities. In 1987, an associate suggested that Huizenga scout a Dallas chain of video stores as a potential investment. Huizenga was skeptical, considering video stores to be akin to pornography. But when he saw the Blockbuster chain, he not only saw a clean, family-oriented business, but the potential to turn it into the McDonald's of the video world. Huizenga eventually acquired a majority interest in the firm and took it international. In 1992, Blockbuster expanded into music stores as well. More than 40 million people now hold Blockbuster Video cards. Then, in 1993, Blockbuster acquired a majority interest in Spelling Entertainment, which also included the distribution arm formerly known as WorldVision. The acquisition of Republic Pictures through Spelling followed in 1994. By September 1994, Blockbuster had merged with Viacom. Huizenga's three per cent stake in the company was second only to chair Sumner Redstone. Huizenga's personal fortune was estimated to top $700 million. Keeping his base in Ft. Lauderdale because, Huizenga has explained, he has deep roots in the community and raised his four children there, Huizenga has consistently backed entertainment businesses which are family-oriented. Blockbuster has banned rentals of tapes with NC-17 ratings. The chain was also developed on the principal of disinterest in offering purchases to customers (although customers can buy videos). Huizenga's philosophy is if the customer rents, he/she will return the rentals and rent some more. Huizenga also has extensive real estate holdings in Florida.
Life Events
1953
Moved with parents to Fort Lauderdale, FL
1962
Went into trash hauling business
1971
Co-founded Waste Management, Inc.
1984
Resigned from Waste Management
1987
Invested $18 million in Blockbuster chain
1990
Bought 50% interest in Joe Robbie football stadium
1992
Expanded to pre-recorded music, Blockbuster Music
1993
Acquired majority interest in Spelling Entertainment
1994
Acquired percentage of Republic Pictures
1994
Merged with Viacom to purchase Paramount Pictures; became vice chair
Family
Companions
