UPDATE: Icahn Group Makes Highest Bid For Blockbuster At Auction

UPDATE, 2 PM: An investor group led by Carl Icahn made a leading bid of $310.6M for Blockbuster today in U.S Bankruptcy Court in New York, topping a $307.1M bid by Dish Network, Bloomberg is reporting. Icahn attended the auction but did not say what he’d do with the movie-rental chain if he acquired it, though the bidders were a mix of liquidators and companies who want to keep Blockbuster a going concern, like SK Telecom. The South Korea company has bid $284.5M, which it said is better than other offers because it covers more costs and liabilities. A sale-approval hearing is set for Thursday.

PREVIOUS, 8:23 AM: Dish Network has made the highest bid for Blockbuster ahead of an auction today for the bankrupt movie-rental chain, Bloomberg reports. A lawyer involved in the proceedings said a group led by Carl Icahn made the second-highest bid. More as the story develops.

This article was printed from https://deadline.com/2011/04/dish-network-has-top-bid-for-blockbuster-ahead-of-auction-120093/