Dish Network has successionally won the auction to acquire bankrupt video rental pioneer Blockbuster with a $320 million bid. Why exactly did Dish pick up the battered Blockbuster? To go head to head with NetFlix, which is becoming a competitor with their movie streaming services.
“With its more than 1,700 store locations, a highly recognizable brand and multiple methods of delivery, Blockbuster will complement our existing video offerings while presenting cross-marketing and service extension opportunities,” said Tom Cullen, Dish’s executive vice president of sales, marketing and programming. “While Blockbuster’s business faces significant challenges, we look forward to working with its employees to re-establish Blockbuster’s brand as a leader in video entertainment,” he said in a press release.