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DISH Network  has announced that it was selected as the winning bidder in the bankruptcy court auction for substantially all of the assets of Blockbuster, Inc.
Completion of the transaction is contingent upon satisfaction of certain conditions, including bankruptcy court approval.
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As of the last 10-Q that Blockbuster filed, which was for the quarter that ended October 3, 2010, base rental revenue for the first three quarters of last year was down 18.2 percent from 2009.
But buying a money-losing venture for its promotion value doesn't seem too swift when its main line of business -- and way of attracting customers -- is dying.
Furthermore, even though the DVD business is waning, studios are still addicted to the revenue they get for those disks.
Erik Sherman is a widely published writer and editor who also does select ghosting and corporate work.

Powered and implemented by Interactive Data Managed Solutions News provided by The Associated Press. SAVE 10% Off Additional to the already low prices enter coupon code HDTFV-13 when checking out. We promise to never spam you, and just use your email address to identify you as a valid customer. They are items that we normally do not keep in stock or we have recently ran out of stock, but are still available for order. Dish Network bought the beleaguered video rental chain at auction for $320 million, beating three other bidders, including Carl Icahn.
However, Blockbuster has something else that Dish wants: agreements with the movie studios permitting rentals and even sales via streaming over the Internet.
That gives Blockbuster's new owner some significant leverage in negotiating with the studios.

The views expressed in this column belong to Sherman and do not represent the views of CBS Interactive. After certain adjustments are made at closing of the transaction, including adjustments for available cash and inventory, DISH Network expects to pay approximately $228 million in cash to acquire Blockbuster at the closing which is expected to occur in the second quarter of 2011.
This is surprising because if anyone would have been in the running for Blockbuster’s assets in an aggressive way I would have thought it would be Netflix.
The post Danganronpa 2: Goodbye Despair Review (PS Vita) was originally written by Alexander Culafi for ZoKnowsGaming.
I mean at $320 million all of Blockbuster’s assets are really a bargain, I think Netflix took their eye off the ball.

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