Tweet
Blockbuster has finally found a suitor.
Dish Network announced today that it will be acquiring the movie rental chain for $228 million. The satellite provider participated in a bid for Blockbuster offering $320 million. After it made adjustments for cash and inventory, the companies agreed on the final price.
Though Dish didn't say what it's plans are for Blockbuster, the company's executive vice president of sales, marketing and programming, Tom Cullen, was quick to acknowledge that the rental chain "faces significant challenges." And his company's goal is to "reestablish Blockbuster's brand as a leader in video entertainment."
Dish Network expects the Blockbuster deal to close in the second quarter, pending bankruptcy court approval.
More to come..
Powered By WizardRSS.com | Full Text Feed | Amazon Affiliate
Dish Network announced today that it will be acquiring the movie rental chain for $228 million. The satellite provider participated in a bid for Blockbuster offering $320 million. After it made adjustments for cash and inventory, the companies agreed on the final price.
Though Dish didn't say what it's plans are for Blockbuster, the company's executive vice president of sales, marketing and programming, Tom Cullen, was quick to acknowledge that the rental chain "faces significant challenges." And his company's goal is to "reestablish Blockbuster's brand as a leader in video entertainment."
Dish Network expects the Blockbuster deal to close in the second quarter, pending bankruptcy court approval.
More to come..
Powered By WizardRSS.com | Full Text Feed | Amazon Affiliate