Satellite TV provider Dish Network wants to become satellite TV and video-rental retailer Dish Network. It announced today that its bid of $320 million ($228 million in cash) was enough to win the auction to buy Blockbuster, the venerable, ailing video chain that went bankrupt last September. Assuming that the sale goes through, Dish will get itself 1700 stores and other Blockbuster properties, such as its on-demand services for PCs, phones, and set-top boxes.
Dish’s statement was optimistic, but cautiously so:
“With its more than 1,700 store locations, a highly recognizable brand and multiple methods of delivery, Blockbuster will complement our existing video offerings while presenting cross-marketing and service extension opportunities for DISHNetwork,” said Tom Cullen, executive vice president of Sales, Marketing and Programming for DISH Network. “While Blockbuster’s business faces significant challenges, we look forward to working with its employees to re-establish Blockbuster’s brand as a leader in video entertainment.”