Dish Network Nabs Blockbuster for $320M

Dish Network Corp. won Blockbuster Inc. in a bankruptcy auction for about $320 million, trumping at least three other bidders including activist investor Carl Icahn, Reuters reported. Dish Network said in a statement that it expects to pay about $228 million in cash on the deal. Dallas-based Blockbuster was once the world’s largest video chain, with a market cap of more than $5 billion at its peak in 2002, but came under pressure from mail-order and digital competitors such as Netflix Inc.

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