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Blockbuster Drops Circuit City Takeover Bid

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Blockbuster Inc. said Tuesday it is withdrawing its proposal to buy Circuit City Stores Inc., the big-box retailer whose sales have tumbled this year.

Chief Executive James Keyes said in a written statement that the proposed deal, at a price of $1 billion or more, didn't make sense because of market conditions.

Blockbuster, the nation's largest movie-rental chain, will still try to merge content such as movies and games with the sale of electronic devices under one roof — but it will be at Blockbuster's own stores, Keyes said.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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