[Satellite TODAY 04-07-11] Dish Network has acquired online and retail movie rental chain Blockbuster Inc. for $320 million after it was selected as the winning bidder in Blockbuster’s bankruptcy court auction, Dish Network announced April 6.
    Dish Network said it expects to pay about $228 million in cash to acquire Blockbuster after adjustments are made for available cash and inventory at closing of the transaction, which is expected to occur in the second quarter.
    Dish Network will acquire all of Blockbuster’s assets, including more than 1,700 retail stores and all brands, trademarks and methods of delivery. Blockbuster’s business has faced significant challenges due to the rise of online streaming services such as Netflix and Hulu. Dish Network said it would use Blockbuster’s assets to complement its existing video offerings while presenting cross marketing and service extension opportunities.