Talk about coming out of left field.
Blockbuster has finally found a buyer, and it’s not a name that one would normally have in mind. None other than Dish Network has come out the winner of the Blockbuster name, and is the new owner of Blockbuster Inc.
Now, the company has agreed to pay the rather large $320 million for nearly every asset owned by the former giant of the home-video renting game, coming out the winner of a bankruptcy auction started this past Monday. Beating out billionaire Carl Ichan, a group of Blockbuster creditors and even South Korea’s SK Telecom, Dish Network now gets Blockbuster, a chain that is, in the current home entertainment world, is all but dead. However, this could be just what the doctor ordered.
Dish Network has stated that they will be using the company to expand their ability to bring their users movies, through things like their actual cable service, as well as the Internet. Throughout the collapse of Blockbuster, their reach was ultimately their major issue, as people began migrating from physical media renting, to streaming or by-mail services. Overall, while it’s an uphill battle that they will be fighting, Dish Network may in fact be the perfect group to come in and save the once giant Blockbuster.
What do you think?
Source: LA Times