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April 5 at 4:32 p.m.
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Filed under: Bankruptcy, Entertainment, Updated

Blockbuster receives 5 bids at bankruptcy auction

By Reuters

A Blockbuster at Foster and Pulaski in Chicago, Feb. 24, 2011. (Chris Sweda/Chicago Tribune)

A bankruptcy auction for movie rental chain Blockbuster Inc kicked off with a $284 million bid from Dish Network Corp on Tuesday, quickly topped by bids from rival groups led by billionaire Carl Icahn and hedge fund Monarch Alternative Capital

The auction in U.S. Bankruptcy Court in Manhattan will decide the fate of the movie rental chain, which filed for bankruptcy last September. The company put itself up for sale in February after a reorganization plan fell apart. Get the full story »