Wednesday, April 6, 2011

DISH Network Scores Blockbuster For $320M

Englewood, Colorado-based satellite broadcaster DISH Network has acquired the assets of bankrupt video rental chain Blockbuster, in a deal worth $320M, DISH said Wednesday morning. After adjustments for cash an inventory, DISH said it will pay approximately $228M in cash for Blockbuster. DISH said the deal will give "complement our existing video offerings" and that despite "significant challenges" it thinks the deal will provide it with cross-marketing and service extension opportunities for the firm.