Despite corporate efforts, Blockbuster continued on a downward spiral filing for bankruptcy and falling into the hands of DISH Network as the highest bidder in a recent auction for Blockbuster’s assets. DISH Network acquired Blockbuster after making a winning bid valued at $320 million as DISH expects to pay $228 million in cash to buy the rights to Blockbuster’s assets including its kiosk business and content streaming. The courts still need to approve the bankruptcy deal before DISH Network can move forward with a strategic re-organization of its newly added company to its growing arsenal of digital media initiatives. The deal could mean that DISH may be able to take the movie streaming powerhouse, Netflix, and kiosk giant, Redbox, head on – making it an interesting story to watch so be sure to check back on our DISH TV Blog for updates.
In Wednesday’s press release, DISH Network’s Executive Vice President of Sales, Marketing and Programming, Tom Cullen had this to say about DISH Network’s recent acquisition: “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,” he said. “While Blockbuster’s business faces significant challenges, we look forward to working with its employees to re-establish Blockbuster’s brand as a leader in video entertainment.”
Watch the YouTube video below from Bloomberg’s recent account of the Blockbuster buyout. To learn more about becoming a DISH Network subscriber, visit authorized DISH Network retailer, DISH Systems, online or call 866-989-3474. You can also find DISH Systems on Facebook and Twitter for additional satellite television updates.