Dish Network has revealed in filings with the U.S. Bankruptcy Court in New York that it will assume the leases on more than 500 Blockbuster stores, meaning the retailer will remain a bricks-and-mortar business at least in some capacity, the Wall Street Journal reported today. Dish has been mostly mum on what it will do with Blockbuster since winning an auction for the failed move-rental chain earlier this month, though it is widely believed that Charlie Ergen’s satellite company will use the Blockbuster brand to develop a digital service to rival Netflix, the company responsible for taking down Blockbuster in the first place. In the meantime, Blockbuster has been shuttering stores like crazy during the past few months. Dish’s acquisition is expected to close before the May 5 deadline agreed upon under terms of its winning bid at auction.
By THE DEADLINE TEAM | Monday April 18, 2011 @ 8:50pm PDTTags: Bankruptcy, Blockbuster, Dish Network
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This article was printed from http://www.deadline.com/2011/04/dish-network-plans-to-keep-some-blockbuster-stores-open/
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