Blockbuster sale wins antitrust approval, expected to close April 21

By Caroline Salls

Pittsburgh, April 8 - Blockbuster, Inc. asset purchaser DISH Network Corp. said it plans to close the sale of substantially all of Blockbuster's assets on April 21 after antitrust authorities approved the sale on April 8.

"We are pleased to report that earlier today U.S. antitrust authorities granted early termination of the waiting period under the Hart-Scott-Rodino Act in connection with our pending purchase of substantially all of the assets of Blockbuster, Inc.," DISH Network said in a news release.

"We commend the Department of Justice and the Federal Trade Commission for their expeditious completion of the review process, and we anticipate closing the Blockbuster transaction on April 21, 2011."

As previously reported, the $320 million asset sale was approved on April 7 by the U.S. Bankruptcy Court for the Southern District of New York.

Blockbuster, a Dallas-based provider of in-home movies and game entertainment, filed for bankruptcy on Sept. 23, 2010. Its Chapter 11 case number is 10-14997.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.