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Dish buys Blockbuster assets
Blockbuster’s assets were bought by Dish Network at a bankruptcy auction for a winning bid of $320m (£195.9m) in the early hours of yesterday morning. The second-largest US satellite TV provider will pay about $228m in cash with the aim of bolstering offerings, most likely using Blockbuster’s online outlet to deliver movies to customers. The video-rental firm had been unable to stabilise its future following a drop-off in the DVD market and concurrent rise in piracy. Non-US subsidiaries, including the UK’s 600 shops, are not included in the bankruptcy proceedings.