Dish Buys Blockbuster

Posted by at 10:39 am on April 6, 2011

Dish said Wednesday that it had won an auction to buy Blockbuster. The satellite TV provider said it had offered $320 million, about $228 million of which was in cash, to beat out competitors like investor Carl Icahn and SK Telecom. Bids had gotten as high as $310.6 million, from Icahn, before Dish landed the final price.

The victory still required approval at bankruptcy court on Thursday. Any deal if approved should be completed before the end of the spring.

Dish didn’t outline its exact plans for Blockbuster but said the struggling video rental chain gave “cross-marketing and service extension opportunities” that would bolster its existing TV service.

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