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Dish Network is buying Blockbuster for a cool 228 million

Posted on Wednesday, April 6th, 2011 in Other by Nick

Dish Network has announced that they will be buying Blockbuster for $228 million. They won Blockbuster in a court auction with the winning bid of $230 million. After adjustments dealing with inventory and cash, Dish will be paying the said $228 million.

Blockbuster filed for Chapter 11 bankruptcy back in September with the intention of reducing it’s $1 billion dollars in debt to $100 million. It has closed almost 1,000 stores of its 7,000 stores so far and even Dish CEO Tom Cullen said in a statement that the rental chain “faces significant challenges.

I haven’t used Blockbuster in ages and don’t plan on using it as long as Netflix and Redbox is around. Simply put it, Blockbuster has a long and tough road back to success.

HomeForumsDish Network is buying Blockbuster for a cool 228 million

This topic contains 0 replies, has 1 voice, and was last updated by  Nick April 6, 2011 at 10:23 PM.

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    Nick
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    Dish Network has announced that they will be buying Blockbuster for $228 million. They won Blockbuster in a court auction with the winning bid of $230
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