It is nearly the end of the road for Blockbuster as we know it. The company has put itself up for auction and is accepting bids higher than “stalking horse” Cobalt Video Holdco bid of $290 million. The plan, then would be to accept a higher offer from any potential bidders or sell the assets to Cobalt.
What will you get for your $290 million?
“The purchaser will be able to take full advantage of Blockbuster’s many strengths, which include an internationally recognized brand name, an exceptional library of more than 125,000 titles, millions of loyal customers, and a multi-channel content distribution platform. Because of its ability to deliver physical content (through DVDs) and digital content (through streaming), Blockbuster can offer customers the unique ability to access any movie, any time.”
The company is currently in Chapter 11 bankruptcy.