In a recent interview with the LA Times, Dish Network’s (DISH-$22.72) chief executive Joe Clayton articulated that the $320 million purchase of Blockbuster (BLOAQ - $0.07) last April was integral to transforming the second-largest U.S. satellite TV provider (after DirecTV) from a pay-television service (with about 14 million subscribers) into a bigger player in wireless, broadband and an emerging competitor of streaming, online entertainment content and DVD-by-mail services to industry bellwether Netflix Inc. (NASDAQ: NFLX).
What does this move mean for stockholders of the bankrupt video-rental chain?
Read more at 24/7 Wall Street….
Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.
What does this move mean for stockholders of the bankrupt video-rental chain?
Read more at 24/7 Wall Street….
Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.
1 comment:
Unfortunately, I think blockbuster is going down the drain. Don't think this was such a great purchase. I guess time will tell.
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