83.9 F
San Fernando
Thursday, Apr 18, 2024

Blockbuster plans takeover bid of Circuit City

DALLAS — Blockbuster Inc. said today that it would take an unsolicited $1 billion-plus bid for Circuit City Stores Inc. directly to shareholders of the nation’s second biggest consumer electronics chain, saying the struggling retailer has not responded to repeated offers. Blockbuster, however, has had troubles of its own competing with online movie rental operators like Netflix Inc., and Circuit City questioned whether it has the financiang to do the deal. Blockbuster Chief Executive James Keyes said a deal would create a chain that could sell portable devices and entertainment for them, much like Apple Inc.’s stores. For the full story visit http://www.latimes.com/business/la-fi-circuit15apr15,1,47161.story

Featured Articles

Related Articles