South Korean Mobile Carrier May Bid on Blockbuster

Posted Fri Apr 1, 2011 at 10:30 AM PDT by Dick Ward

It's an odd move, but SK Telcom may pick up the former video rental giant.

Time is running out for the folks at Blockbuster. On Monday, the company will be auctioning itself off to the highest bidder. Most of the interested companies make sense, and there are some rumors of bids by Netflix and Amazon. There's one that stands out as a bit of an odd duck.

SK Telcom, South Korea's largest mobile phone carrier, is expected to put in a bid. They're a large company and have the means, but the motive is unclear. Analyst David Lee says that the idea is perplexing because "no immediate synergies come to mind and the required restructuring of the company could be very costly."

No one from SK Telcom has commented officially, but one anonymous representative did confirm that the company is looking to do business in the States.

Source: Reuters

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Tags: Industry Trends, Blockbuster, SK Mobile (all tags)