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Carl Icahn Among Bidders Interested in Bankrupt Blockbuster

Apr 5, 2011  •  Post A Comment

Billionaire Carl Icahn is among the bidders interested in the auction for bankrupt movie-rental chain Blockbuster, with his auction bid attracting a second group of liquidators, reports Bloomberg.

Icahn’s offer has been joined by Great American Group and Tiger Capital Group, the story says. The group will face competing bids from Dish Network and SK Telecom, the piece adds.

The companies were reportedly involved in eight hours of closed-door bidding in U.S. Bankruptcy Court in Manhattan on Monday. The piece notes that the involvement of liquidators doesn’t mean that Blockbuster will end up closing.

The video-rental chain owned 2,400 stores as of Monday, with plans to close 700 by mid-April, according to a Blockbuster spokesman.

 

One Comment

  1. I can’t see this ever working out for Dish. Blockbuster had a chance once but I firmly believe they are trying to catch up from far too far behind.

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