Biz

On-the-Auction-Block Blockbuster Thinks Amazon, Best Buy, CVS Are Interested

By Robert Wilonsky Mon., Feb. 28 2011 at 10:12 AM
Categories: Biz, From the RTF Dept.
blockbuster_sign.jpg
​Home Media Magazine directs our attention to this Friday filing in U.S. Bankruptcy Court in New York, where Renaissance Tower-based Blockbuster filed for Chapter 11 back in September. As we noted last week, Blockbuster's up for sale now, with Monarch Alternative Capital among the interested parties, having contributed to the $290-million stalking horse bid. But the embattled company, now under siege from movie studios (such as Universal) insisting Blockbuster owes millions for DVDs presently sitting on stores' shelves, insists there are other parties interested -- the so-called "Potential Bidders Parties" listed in Exhibit D of Friday's filing.

The list is quite a who's-who hodgepodge, ranging from Amazon to Best Buy to CVS to Echostar/Dish to BlackBerry maker Research in Motion to Philip Anschutz, who owns a little bit of everything. The filing doesn't say why those companies, among dozens of other names listed, are mentioned. But as noted on the I Hate Blockbuster forum, there are a few liquidators amongst the would-be buyers.
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Howard
Howard

Redbox should buy them and fill the stores with their vending machines.

Scruffygeist
Scruffygeist

On one hand, I can see Amazon being interested if it means they get the rights to the titles that Blockbuster has already cleared for online streaming, but they may very well have all those rights themselves anyway.

On the other hand, since the state of Texas seems to think a subsidiary distribution center is a physical presence and therefore Amazon owes sales taxes to the state, why in the world would they buy a company that has a physical presence in every state?

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