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Blockbuster is Up for Sale
Wed Feb 23, 2011 at 12:00 PM ETTags: Blockbuster (all tags)
If you've got $300 million laying around, you could own a struggling mega-franchise of your very own.
Poor 'Blockbuster' hasn't been doing so well these past few years. After battling bankruptcy and trying out new business strategies it seems that Blockbuster is finally throwing in the towel.
"Its business has continued to deteriorate so much that existing creditors couldn’t agree to put more cash into the business," says Edward Woo, researcher at Wedbush Securities. "Now it's left with no choice but to sell itself, or consider the possible option of a Chapter 7 liquidation."
Assuming the major studios are willing to work with the new owners and provide Blockbuster with the same deals its getting now, the price looks to be around $290 million. Now Blockbuster just has to hope someone's willing to pay it.
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