Click to Skip Ad
Closing in...

Dish Network wins Blockbuster auction

Updated Dec 19th, 2018 7:09PM EST
BGR

If you buy through a BGR link, we may earn an affiliate commission, helping support our expert product labs.

Pending approval at a hearing scheduled for Thursday, Dish Network will acquire Blockbuster Inc. following an auction that took place earlier this week. The company’s winning bid was approximately $320 million but the acquisition is expected to land at about $228 million in cash, taking into account Blockbuster’s inventory, available cash and other adjustments. Blockbuster was put up for sale at an auction on Monday following its recent bankruptcy filing, and several companies competed for control of Blockbuster’s business and assets. Dish’s winning bid topped several other bidders including Cobalt Video, a group of hedge funds lead by Monarch Alternative Capital, and billionaire investor Carl Icahn. “Blockbuster will complement our existing video offerings while presenting cross-marketing and service extension opportunities for Dish Network,” said Dish Network’s EVP of sales, marketing and programing, Tom Cullen.

Read

Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.