Dish Network Wins Blockbuster Auction
Dish Network is the winning bidder in Blockbuster's two-day bankruptcy auction, the company announced early Wednesday. The satellite company beat out multiple liquidators, indicating that the Blockbuster brand will remain alive in some form.
The winning bid was for $320 million, of which $228 million was cash, Dish said.
"With its more than 1,700 store locations, a highly recognizable brand and multiple methods of delivery, Blockbuster will complement our existing video offerings while presenting cross-marketing and service extension opportunities for DISH Network," Tom Cullen, executive vice president of Sales, Marketing and Programming for DISH Network, said in a statement. "While Blockbuster's business faces significant challenges, we look forward to working with its employees to re-establish Blockbuster's brand as a leader in video entertainment."