With Blockbuster filing for bankruptcy last September, the door was open for a competitor or another company to purchase the video rental company. According to EW, the Dish Network has stepped in and will pay $320 million for the franchise.
“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,” Tom Cullen, an executive vice president at the company, said in a statement. “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 sale has to be approved by the bankruptcy court before it becomes final.
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