DISH Network Corporation has announced that it was chosen as the winning bidder for largely all of the assets of Blockbuster, Inc in the bankruptcy court auction.
The winning bid by DISH Network, the fastest growing satellite TV service was valued at approximately $320 million. After some adjustments are made at the closing of the transaction, including adjustments for available cash and inventory, DISH Network anticipates to pay around $228 million in cash to purchase Blockbuster at the closing that is expected to take place in the second quarter of the year 2011.
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