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BlockBuster is no longer on sale because Dish TV just bought it at the auction for a steal of $228 million cash! Today Reuters reported that Dish Network was the highest bidder to buy out Blockbuster for $320 million of which $228 million was all cash. Blockbuster’s decline came in after the introduction of Netflix and while blockbuster was trying to keep up with them, Netflix was always a mile ahead.
Blockbuster filed for bankruptcy last year and the satellite service provider Dish Network outbid three other bidders to buy the company. This is interesting as Dish Network might be using blockbusters assets and technology to enhance its satellite TV offering. Dish Network is spread out through out the world and the buy out of Blockbuster is a major plus, especially at such low rates!
Dish Network will definitely put Blockbuster’s massive online content to its on-Demand collection.