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Dish gets Blockbuster

A BLOCKBUSTER DEAL: The winning bid in that other auction—for bankrupt Blockbuster—came from that other satellite TV outfit, Dish Network, the Wall Street Journal reports. The company said its winning bid for the 1,700-stor chain was valued at around $320 million, and that it expects to pay $228 million in cash to acquire Blockbuster when the deal closes in the second quarter. Led by billionaire Charlie Ergen, Dish has expressed interest in using some Blockbuster stores to sell subscriptions to its service, according to a source, who added that the company also is interested in possible synergies from Blockbuster's on-demand business. Dish views Blockbuster as a "going concern," the source said, in contrast to some other bidders who considered liquidating the company. "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 for Dish Network," the company's Tom Cullen said in a prepared statement. (4/6a)

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