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Dish’s Blockbuster buy approved by judge

A bankruptcy judge on Thursday approved Dish Network’s winning bid and gave it the OK to acquire Blockbuster for $320 million. Dish’s bid topped other bidders including Cobalt Video, a group of hedge funds lead by Monarch Alternative Capital, and billionaire investor Carl Icahn earlier this week at an auction for Blockbuster’s business and assets. New York Judge Burton Lifland gave his approval in bankruptcy court, and Dish will now assume control of 1,700 remaining Blockbuster locations, the company’s DVD-by-mail business and its streaming video business. Now that a judge has approved the deal, Dish is expected to pay roughly $228 million for Blockbuster when factoring in the value of the fallen video giant’s remaining cash and other assets. Proceeds from the sale will help Blockbuster’s creditors, which include multiple movie studios and Carl Icahn, reclaim a portion of the $1 billion they are collectively owed.


Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.

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