Circuit City looks for a suitor, Blockbuster likely to be it
Oddly enough, the far-fetched proposal is apt to be accepted. Circuit City has reportedly solicited the services of Goldman Sachs to help "negotiate a deal," which will essentially put the troubled electronics retailer in the hands of someone else. As it stands, Blockbuster looks to be the most interested in picking up the pieces, with billionaire Carl Icahn (Blockbuster's largest shareholder) agreeing to finance the get-together. Of course, it looks as if Blockbuster may be the only outfit interested. Not like that's any surprise, however, as Best Buy itself is having to look to Europe to boost revenues with US consumer spending off from where it once was. The real question here is whether a Circuit City-Blockbuster combo would be the perfect concoction to turn things around for both flagging firms, or will we find that two sinking ships actually do go down faster when anchored to one another?
