The Dish network has announced that it will purchase bankrupt movie rental chain, in a deal worth $320 million, and after adjustments are made to the deal for available cash and inventory, Dish Network will end up paying $228 million in cash for Blockbuster.
“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 Tom Cullen, executive vice president of Sales, Marketing and Programming for DISH Network. “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.”
The Dish network is hoping to transform Blockbuster back into the leader in video rentals, and it also intends to promote its Dish Network through the companies 1,700 stores.
Filed Under: Technology News