Dish Network Wins Blockbuster Bid
Dish Network has won the bid for Blockbuster, writes The Hollywood Reporter. The bid was worth $320 million, beating out the previous suspected frontrunner Carl Icahn. After adjustments, the deal will see Blockbuster receiving $228 million in cash. The money will allow Blockbuster to pay back studios it owes money to.
Icahn was seen as a frontrunner because he was a longtime shareholder in Blockbuster and loaned it money during its bankruptcy process. His bid was $284 million.
Dish Network is owned by Charlie Ergen, a former professional poker player. Dish looks at Blockbuster as an opportunity to cross-promote and push services for Dish Network. One option would be to launch a broadband video service to compete directly with Netflix.
Icahn was seen as a frontrunner because he was a longtime shareholder in Blockbuster and loaned it money during its bankruptcy process. His bid was $284 million.
Dish Network is owned by Charlie Ergen, a former professional poker player. Dish looks at Blockbuster as an opportunity to cross-promote and push services for Dish Network. One option would be to launch a broadband video service to compete directly with Netflix.
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Being an employee I know that DISH is going to do a lot to improve Blockbuster, they aren't closing the stores as far as I know and DISH are keeping the name. DISH is also hosting a promotion for new customers that come to DISH. You get 3 months free of Blockbuster. It includes unlimited movies, TV show, and games through mail free and 5 in store exchanges.
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