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Dish Network to Buy Blockbuster for $320 Million

Posted: April 6th, 2011 by WorstPreviews.com Staff
Dish Network to Buy Blockbuster for $320 MillionSubmit Comment
The assets of Blockbuster just went up for auction, and Dish Network has stepped up to bid $320 million to become the new owner of the rental chain.

"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 the company. "While Blockbuster's business faces significant challenges, we look forward to working with its employees to reestablish Blockbuster's brand as a leader in video entertainment."

Dish Network has over 14 million subscribers, while Netflix is at around 20 million. With the acquisition of Blockbuster and the company's plan to increase its digital offerings, Dish may soon become the leader in the space.

Source: LA Times


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Displaying 29 comment(s) Profanity: Turn On
highdefw writes:
on April 6th, 2011 at 7:22:13 PM

I remember when I had blockbuster...
minkowski writes:
on April 6th, 2011 at 7:51:34 PM

I guess...

They're closing many of their stores and I think they filed for bankruptcy at one point.

They can't compete with NetFlix and Redbox and with those two already heavily entrenched, it'll be difficult for BB to rely on brand name alone to gain a significant portion of the kiosk-rental/digital download market.

I wish them luck, but hey, thats what they get for rental gouging.
John FootPenis writes:
on April 6th, 2011 at 9:54:07 PM

Man, I miss Hollywood Video.
Ranger writes:
on April 6th, 2011 at 10:17:56 PM

The female staff at Blockbuster should consider going topless to save the company.

Note WP Users: Ranger is available to offer professionally counseling services to your failing business (but it's usually 'the female staff should go topless' kind of advice).
johnny_boy writes:
on April 6th, 2011 at 10:42:09 PM

@Ranger.... My topless bar, of course just women, is a little slow. Would you recommend bottomless as well?
Ranger writes:
on April 6th, 2011 at 10:45:07 PM

Thx. for asking.

When topless doesn't succeed, I always recommend the lady staff go 'Full Monty.'

You're welcome.

Invoice to your regular address?

Thank you for using our service.
telur writes:
on April 6th, 2011 at 10:52:06 PM

why you need blockbuster when you can download it free?
BadChadB33 writes:
on April 6th, 2011 at 11:02:26 PM

I'll give 5 bucks for Blockbuster.
Ranger writes:
on April 6th, 2011 at 11:08:17 PM

I can't believe Blockbuster found a buyer. Unless the $320mil is less than their current inventory is worth. How do you put a price on a company that's LOSING market share?
minkowski writes:
on April 6th, 2011 at 11:15:44 PM

Dish has more than 3 bil in liquidity, Ranger. They picked BB up for a song.

http://www.msnbc.msn.com/id/42450406/ns/business-us_business/

Looks like Dish is betting on brand name after all. Smart move? Probably not.
Ranger writes:
on April 6th, 2011 at 11:24:08 PM

Yep... it has to be such a price that even an instant liquidation of BB's assets would net them a profit.

Everything sells at the right price (even trig's wife).
Ranger writes:
on April 6th, 2011 at 11:26:37 PM

$3bil cash in the bank...

That's gotta suck.
minkowski writes:
on April 6th, 2011 at 11:40:22 PM

"Everything sells at the right price (even trig's wife)."

Yea, but it's not the upfront cost of the two jacksons or the bitch-slapping, cross-eyed pimp, it's the cost later on when your d*ck rots off while riding to work in the HOV lane.
minkowski writes:
on April 6th, 2011 at 11:44:15 PM

"Yep... it has to be such a price that even an instant liquidation of BB's assets would net them a profit."

Maybe. How much is BB in the hole for with that bankruptcy? Didn't they come out in the red with that?

According to this:

http://www.bloomberg.com/news/2011-02-04/blockbuster-insolvent-bankruptcy-should-be-liquidation-creditor-says.html

BB owes 1.6 mil just for unpaid Twilight DVDs. lol. Now that's insult added to injury.

"The company listed assets of $1.02 billion and debt of $1.46 billion when it sought court protection on Sept. 23."

That's not good. I hope Dish knows something we don't. lol.
Ranger writes:
on April 7th, 2011 at 12:16:32 AM

Topless staff maybe?
minkowski writes:
on April 7th, 2011 at 12:23:00 AM

Maybe, or dollar porn rentals.
trailertrash writes:
on April 7th, 2011 at 2:43:48 AM

"I'll rent those for a dollar"

Maybe try the reward card scheme

15 rentals gets you 10 minutes with any of the females workers 25 rentals gets you 2 girls 15 minutes so on and so forth.
Ranger writes:
on April 7th, 2011 at 2:51:36 AM

That would actually get me back inside a Blockbuster (and by that I mean inside their female staff).
trailertrash writes:
on April 7th, 2011 at 2:52:59 AM

Blockbusters here in the UK turned it around slightly by getting out of a lot of their small stores that only stocked the top 50 films plus a small back catalog for movies.

They are also the cheapest place to now buy Blu-Rays/dvds on release day (other than the net)

Plus they now get about 65% of all films released 2 or 3 weeks earlier than anywhere else, which has helped but i don't think it can save the chain in the long term how can they really compete with downloading for FREE !!
trailertrash writes:
on April 7th, 2011 at 2:53:52 AM

hahaha you know it Ranger

I'd be a serial Renter !!
Ranger writes:
on April 7th, 2011 at 3:24:07 AM

I'd just rent the back storage room and put a cot in there.
trailertrash writes:
on April 7th, 2011 at 4:26:09 AM

lol
Cinemaisdead writes:
on April 7th, 2011 at 6:06:13 AM

I wonder this will cancel out my 60 pounds that I owe them for two Playstation 2 games and a DVD that I returned 5 months too late. They used to ring me up and threaten me with more bills. Ain't nobody busting my blocks... I moved to Vietnam and studied kung fu.
Bunny X writes:
on April 7th, 2011 at 10:20:12 AM

Bad management on BB's part. They had the inside track on rentals before Redbox and Netflix really got going. they let those two pass them buy when they already had the infrastructure in place both online and physical. But I can't 100% fault them. Nobody believed the mail-order rental / downloading move would work. Now Netflix and Redbox are reaping the benefits of their risk.

And BB had all the tools in place. They had the stores which are much better for mail-order returns to get a faster turn-around and provide a broader library to select from. They have kiosks and they were just developing their online mail-order service. How they failed is mind-boggling.
Ranger writes:
on April 7th, 2011 at 11:52:01 AM

Because by...

'...BB had all the tools in place.' --- we'll assume that meant 'upper management.'
SACdaddy writes:
on April 7th, 2011 at 1:05:11 PM

@Bunny: That's probably why Dish purchased the company. Like you said BB should have been way in front of the game with the infastructure it already had in place. It just didn't move fast enough. I personally hate Redbox and Netflix for the limitations they place on renting, and I hope OnDemand crushes them in the near future.
minkowski writes:
on April 7th, 2011 at 1:22:35 PM

What are you people talking about?

Infrastructure? Red Box needed a f*cking warehouse and a few kiosks they can throw from a truck.

Blockbuster had a large, heavy and expensive string of brick and mortar buildings ('dinosaur').

Very different 'infrastructure' between the two and the leaner, smaller and more efficient one out.

Jesus.
minkowski writes:
on April 7th, 2011 at 1:23:13 PM

..won..
Jakey Nightmare writes:
on April 8th, 2011 at 11:23:03 AM

sooo if i go and rent all i want will they still charge my card for late fee's?

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