There are several investors positioning themselves to snap up Blockbuster at its bankruptcy auction, scheduled for Monday. They are lining up in competition against Cobalt Video, a venture formed by some of Blockbuster’s bondholders, which made an opening bid, or stalking horse offer, of $290 million in February. Among the newer bidders are Dish Network and billionaire investor Carl Icahn, which reportedly each placed bids for the movie-rental chain this week. All together, it appears at least a handful of would-be buyers are lining up to try to acquire Blockbuster, including South Korea’s SK Telecom.
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Bidders Ready to Tangle Over What's Left of Blockbuster
Posted by: Erika Morphy April 2, 2011 05:00 AMThere are several investors positioning themselves to snap up Blockbuster at its bankruptcy auction, scheduled for Monday. They are lining up in competition against Cobalt Video, a venture formed by some of Blockbuster’s bondholders, which made an opening bid, or stalking horse offer, of $290 million in February. Among the newer bidders are Dish Network and billionaire investor Carl Icahn, which reportedly each placed bids for the movie-rental chain this week. All together, it appears at least a handful of would-be buyers are lining up to try to acquire Blockbuster, including South Korea’s SK Telecom.