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Dish To Buy Blockbuster Unit For $320M
Dish Network is acquiring bankrupt Blockbuster’s movie-rental business for $320 million.
Dish Networkis acquiring bankrupt百视达’s movie-rental business for $320 million,Bloombergreports. The second-largest U.S. satellite TV company has won the bid from at least three other bidders, includingCarl Icahnand Seoul-based wireless and internet service provider,SK Telecom.
Dish is expecting to pay nearly $228 million in cash as part of the bid to buy the company. The deal, which includes more than 1,700 Blockbuster stores and still requires approval from U.S. bankruptcy judge, will allow the movie-rental chain to reorganize instead of having its assets sold off by liquidators.
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