Blockbuster Gets Bid from Icahn, Dish Network: Report
The Wall Street Journal reported on Friday that billionaire investor Carl Icahn and satellite-television company Dish Network have each submitted offers to purchase the bankrupt movie rental retailer.
Bids for the company were due Thursday evening.
According the Journal, which cites sources familiar with the matter, the bidders have made minimum offers required to qualify for Monday's auction. The bidding will start at $290 million, which was the "stalking horse" offer approved by a judge earlier in the month.It has also been speculated that Blockbuster received an unexpected bid from a South Korean wireless communication company. Icahn's potential interest in Blockbuster comes after he said in an article in April's edition of Harvard Business Review that the company was the "worst investment" he ever made. --Written by Jeanine Poggi in New York.
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