Blockbuster Reportedly Gets Offer

Blockbuster Reportedly Gets Offer

POSTED: Tuesday, February 22, 2011 - 8:27am

UPDATED: Tuesday, February 22, 2011 - 9:00am

Much has happened since we reported that Blockbuster Inc., was up for sale. The movie rental chain now says a group of investors is offering $290 million to buy it out of bankruptcy protection.

The reported offer is a so-called “stalking horse” bid, which Blockbuster hopes will attract other bidders and thus, higher offers.

Blockbuster was once the leading U.S. Movie rental chain, but suffered a big hit as Netflix Inc., and DVD rental kiosks stole business. The chain filed for bankruptcy protection in September.

Comments News Comments

It's time for some going out of business DVD sales!

Post new Comment