Blockbuster has finally found a suitor.
Dish Network announced today that it will be acquiring the movie rental chain for $228 million. The satellite provider participated in a bankruptcy court auction for Blockbuster, making a winning bid of $320 million. With adjustments for cash and inventory, the companies agreed on the final price.
After failing to see the changing times and allowing Netflix's DVD-By-Mail service to grow under its nose, Blockbuster was met by significant challenges in the rental space. In 2009, a little over a year after it tried to acquire Circuit City for $1 billion, Blockbuster was … Read more