KBTX - Money - Headlines

Blockbuster Still Considering Circuit City Bid

By: Associated Press Email
By: Associated Press Email

NEW YORK (AP) - Dallas-based Blockbuster says it is still
considering a possible acquisition of electronics retailer Circuit
City.
Blockbuster's proposed takeover of Richmond, Virginia-based
Circuit City was only mentioned briefly during the rental chain's
annual meeting Wednesday.
Chairman and Chief Executive Jim Keyes said the company is still
in the due diligence stage and did not disclose when a decision
will be made on the bid of just over $1 billion.
Keyes said acquiring Circuit City would be an "accelerator" of
the company's strategy to grow Blockbuster's core rental business
and enhance its product offerings of movies, games and
entertainment gadgets.


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