Blockbuster puts itself up for sale for $290 million

By Los Angeles Times
Posted Feb. 21 at 4:09 p.m.

Home video chain Blockbuster Inc., in bankruptcy, has opted to put itself up for sale after creditors were unable to agree on a recapitalization plan.

The Dallas-based company said Monday that it has submitted a plan for an auction process to U.S. Bankruptcy Court in New York. A holding company formed by four if its largest creditors — Monarch Alternative Capital, Owl Creek Asset Management, Stonehill Capital Management and Varde Partners — has submitted an opening “stalking horse” bid of $290 million.  Get the full story »

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  1. none Feb. 21 at 5:05 pm

    F Blockbuster

  2. Brian Luebke Feb. 21 at 11:12 pm

    The headline suits the company – blockbuster has been pimping their customers for years.

  3. RegularGuy Feb. 22 at 12:03 a.m.

    If the sale doesn’t close on time, will Blockbuster have to pay late fees?

  4. Ray Bleu Feb. 22 at 12:34 a.m.

    Send them the check in a red self-sealing mailer.

  5. MC Feb. 22 at 9:04 a.m.

    Who would buy Blockbuster? The era of renting dvd’s at a brick-and-mortar store are over. Plus, all the stores are absolute dumps and the movies are overpriced. I stream my rentals now. No returns and no late fees. Perfect.

  6. jack (me) Feb. 22 at 9:05 a.m.

    It looks like the “stalking horse” just bought business “horse bleep.” Of course, since they are creditors, it isn’t going to cost them any more.