It’s official! Blockbuster has been bought by Dish Network.
Dish’s bid was for $320 million, but the value decreases to $228 million after adjusting for available cash and inventory.
“Blockbuster will complement our existing video offerings while presenting cross-marketing and service extension opportunities for Dish Network,” said Tom Cullen, executive vice president of sales, marketing and programming for Dish Network, in a statement.
Blockbuster is already a shadow of its former self. When the chain filed for bankruptcy protection, it was down to 3,000 stores, less than a third of the peak of 9,100 in 2004. There are about 2,400 currently open with plans to close about 700 more by mid-April.
- Source: Huffington Post
I actually think if done right, this may be a good deal for both Blockbuster and Dish Network. Blockbuster will NEVER be the movie rental powerhouse it used to be. However, I think Dish Network has an incredible opportunity to boost it’s appeal and visibility through in-store promotions at Blockbuster’s brick and mortar locations. The cross-promotional efforts will also make a good partnership.
I think this is a win-win!
So here’s some ideas I have for some names should they decide to somehow merge the two together. Tell me what you think:
Image Source: Huffington Post
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