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04-15-2008, 10:40 AM
|  | m00tini! | | Join Date: Nov 2003 Location: Some Hotel Somewhere
Posts: 16,872
 : 78 th | | | Blockbuster Video Tries To Acquire Circuit City
In a rather bold move, Blockbuster Video is making a $1 billion offer for the ailing electronics retailer Circuit City. Blockbuster is attempting to mimic the Apple store concept with a hardware/software/service one-stop shopping experience.  Quote:
Movie rental chain operator Blockbuster Inc. said early Monday it will take its unsolicited $1 billion-plus bid for Circuit City Stores Inc. directly to shareholders, saying the consumer electronics chain is dragging its feet on the deal.
Blockbuster says that it requested a response by Feb. 21, but, to date, Circuit City has failed to provide due diligence necessary to allow Blockbuster to make a definitive takeover proposal. Blockbuster is asking for such information as Circuit City's long-term corporate strategic plan and outlook, detailed store-level performance data and current inventory aging schedules, among other items.
"Our proposal offers Circuit City a significant premium to its existing stock price and creates a game-changing retail concept with a sustainable competitive advantage," Blockbuster (BBI, Fortune 500) Chairman and Chief Executive Jim Keyes said in a statement. "We look forward to engaging in further conversations with Circuit City and reaching an agreement as soon as possible."
| This is a lot like the Microsoft/Yahoo! deal...one guy is ready to buy, but the other is skeptical about the future of the combined entity and is looking to cash in on the frontside. Vertical integration is the new pink...who'd have thought it? |
04-15-2008, 11:05 AM
|  | The Sky is Over | | Join Date: Jul 2004 Location: Boston
Posts: 15,936
: 89 th | | | wtf? |
04-15-2008, 11:09 AM
|  | Platanos con salami... | | Join Date: Jul 2007 Location: The Bronx
Posts: 1,690
| | | This one came out of right field lol would've never thought... |
04-15-2008, 12:07 PM
|  | Baddog | | Join Date: Nov 2006
Posts: 2,387
| | | Who would of thunk Blockbuster has the resources for such a deal they have closed most of them up around here. |
04-15-2008, 01:57 PM
|  | awww skeet skeet skeet | | Join Date: Oct 2006 Location: Lil' Mexico
Posts: 4,118
| | | Lackluster + Circuit Shitty = horrible idea.
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04-15-2008, 07:43 PM
|  | Reppin the 617 | | Join Date: Sep 2006 Location: MA
Posts: 823
| | Quote:
Originally Posted by useful_idiot  |  Yes indeed
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04-15-2008, 09:37 PM
|  | OMFG!!!! | | Join Date: Apr 2004 Location: some western town
Posts: 20,899
| | | well, I think blockbuster wants to have some Mega-buster stores. They're obviously dying to get more into gaming and peripherals, and their stores are too small for any real expansion.
I think Circuit City is on the way down, they should take the deal. Kinda like Yahoo.
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04-16-2008, 12:04 AM
|  | Best Stuff On Earth | | Join Date: Apr 2007 Location: New York City
Posts: 197
: 85 th | | Quote:
Originally Posted by useful_idiot | Yep.
I never saw this one coming, I did not even know they had that much money. |
04-19-2008, 12:52 AM
|  | Registered User | | Join Date: Jan 2006 Location: Virginia
Posts: 942
: 13 th | | | I laughed when i heard this i was like blockbuster can't afford circuit city lol but now i see.....
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04-20-2008, 04:22 PM
|  | Too Loud! Too Bright! | | Join Date: Dec 2005 Location: a place of settlement, activity, or residence
Posts: 6,523
| | | Well Blockbuster has to do something. With services like netflix, blockbusters' dominance in it's industry has diminished. I think this is a good move for them, if they truly can "afford" it. It kinda makes sense to me. Circuit City has been trying to position itself more with Home Theaters. I think that is the connection for blockbuster.
Google when you get down to it is just an advertising company, so is all major tv networks. They create content so they can charge more for their medium.
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