Dish wins bid for Blockbuster
ºìÌÒÓ°ÊÓ Economics Professor Michael Davis talks about the purchase of Blockbuster by Dish Network.
By CYNTHIA VEGA
WFAA-TV News
DALLASÌý— A new chapter unfolds for Dallas-based Blockbuster after an eight hour overnight bidding war during a bankruptcy court auction.
Dish Network won with a bid of $320 million. Dish expects to pay $228 million in cash.
Analysts said it's the best likely scenario for the survival of bankrupt Blockbuster.
Dish Network, based in Colorado, said it wants to re-establish Blockbuster as a leader in video rental sales. Analysts said that means Blockbuster will be able to re-organize instead of having its assets sold off by liquidators.
Mike Davis, an economics professor with ºìÌÒÓ°ÊÓ Methodist University's Cox School of Business said those of us who love to rent movies are likely to benefit. Davis believes with Dish Network in the picture and a desire to keep Blockbuster alive, more creative video rental ideas are likely on the horizon.
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