DISH Seals Deal for Blockbuster Assets

ENGLEWOOD: DISH Network has won the bidding process for bankrupt home-entertainment rental chain Blockbuster for $320 million.

The platform was selected as the winning bidder in the bankruptcy court auction for substantially all of Blockbuster’s assets. After certain adjustments are made at closing of the transaction, DISH Network expects to pay approximately $228 million in cash to acquire Blockbuster. The deal is expected to close in Q2.

"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," said Tom Cullen, executive VP of sales, marketing and programming for DISH Network. "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."