Between tax day, work commitments/surprises, my daughters coming birthday & graduation and some serious cable internet connection problems I am seriously behind in my blogging duties. I'll be back soon - at least by Monday.
Monday, April 14, 2008
Blockbuster said that it offered in February to acquire Circuit City, but has been in essence ignored by Circuit City as they have failed to give the due diligence necessary to allow Blockbuster to make a definitive proposal. To push the issue, Blockbuster has made the $1B proposal public. Blockbuster has been shying away from being "just a movie rental company" to transform themselves into a retail company for media content and electronic devices both of which have been converging...
I'm not sure how the shareholders of the two companies feel about this sort of business combination, but to me it seems like two companies dying a slow death try to get together to die together faster than alone. Blockbuster is losing out to Netflix and soon to online movie streaming and Circuit City is losing out to Best Buy, Wal-mart and online retailers. Together how will this be any better? I'll tell you two companies that are jumping for joy about this news - Netflix and Best Buy!
Does Blockbuster City sound like a logical "store" to you?