Blockbuster Bids for Circuit City
Blockbuster (BBI) video chain made an offer to buy Circuit City (CC) stores for about $1 billion on April 14th. That is more than the market value of Blockbuster so right off the deal smells bad. Not to mention, neither retailer provides was you would call a great shopping experience.
Even comedian Bill Maher took notice. In his HBO show "Real Time", Maher says,
"New Rule: Crappy companies don't get to merge with other crappy companies. This week, Blockbuster Video announced a hostile takeover of Circuit City. What a brilliant idea. The two places nobody goes anymore finally under one roof. Blockbuster's plan is to combine their expertise in never having the video you want--with Circuit City's high-pressure sales staff of ignorant teenagers--to create the ultimate in horrible retail experiences."
I coud not agree more.
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