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Dish, Carl Icahn bid for Blockbuster

Written by James Delahunty (Google+) @ 02 Apr 2011 2:03 User comments (4)

Dish, Carl Icahn bid for Blockbuster According to the Wall Street Journal, Dish Network Corp and investor Carl Icahn have submitted bids for bankrupt Blockbuster Inc.
The bids qualify both for an auction in federal bankruptcy court in Manhattan on Monday. Blockbuster filed for Chapter 11 bankruptcy last September, weighed down with debts of $900 million.

A group of hedge funds headed by Monarch Alternative Capital made a bid of $290 million for the rental chain in February, setting a mark for other bidders.

South Korea's top mobile carrier, Sky Telecom Co Ltd, also said it was considering an investment in Blockbuster.

Icahn has revealed interest in the past in buying Blockbuster, and Dish could find the brand very useful for its video-on-demand (VOD) services. It is not known how much each lodged bids at.

Tags: Blockbuster
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4 user comments

12.4.2011 19:07

I hope whoever buys Blockbuster liquidates its assets and closes shop.

23.4.2011 1:29

Why bid? Just make your own rental store

33.4.2011 1:32

their buying because of its name. every1 knows the name . GOODWILL
please feel free to correct me.

44.4.2011 0:17

Carl Youcahn

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