Dish Network has announced that they have purchased Blockbuster Video for $320 million. The second-largest U.S. satellite TV company made the preliminary offer via a bankruptcy auction that would still need to be approved by a court.
“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,” said Dish Network’s EVP Tom Cullen. “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,” Cullen said in a prepared statement.
