Blockbuster calls the Circuit City merger off, asks for class ring back
It looks like the potential lovefest that might have been the Blockbuster and Circuit City mashup has drifted away as quickly as it appeared. "Based on market conditions and the completion of our initial due diligence process, we have determined that it is not in the best interest of Blockbuster's shareholders to proceed with an acquisition of Circuit City," said Jim Keyes, head-pimp at B-Buster. We can't be sure what the result was with Circuit City shareholders or employees, but we're willing to bet it didn't look anything like that Best Buy rap video. One more time, after the break.




















Reader Comments (Page 1 of 1)
Ignatius @ Jul 1st 2008 10:16PM
Probably because Circuit City's stock price dropped two bucks in the past month.
Jonny @ Jul 1st 2008 10:16PM
Might have something to do with our stock plummeting and our CEO driving the company and brand into the ground.
GatgetMan @ Jul 1st 2008 10:39PM
Considering it WAS at $4.80, two bucks is quite a bit!
Ignatius @ Jul 1st 2008 10:51PM
Now it's down to $2.55... we'll probably see another CompUSA fallout. Except they probably won't be bought up.
mayhem85 @ Jul 2nd 2008 12:50AM
I guess we'll see what'll happen in the next 6 months to a year...
ScOObyDoo @ Jul 1st 2008 10:23PM
Due diligence = we came to the conclusion that Circuit City is piece of crap.
That said, Blockbuster ain't much better. It would have been the perfect combination of 2 crappy companies.
Ghen @ Jul 2nd 2008 9:31AM
All brick and mortar stores are crapping out. Good riddance to high prices and pushy salesmen.
Josh Asbury @ Jul 1st 2008 10:24PM
This merger never made sense to me anyway. Two companies past their prime trying to do something....anything...to stay relevant.
xkevin @ Jul 2nd 2008 1:35PM
Made sense to me. Blockbuster is unique in that many of its stores have residential market penetration. Circuit City locations are primarily located in high-traffic retail areas with a competitor a short distance away. I believe the idea was to create an express-type concept in Blockbuster stores focusing on home theater equipment. Considering something like 22% of US-households have home theater systems, its a segment that has a lot of room for growth.
GatgetMan @ Jul 1st 2008 10:37PM
Sears + K-Mart
The Aggie CEO @ Jul 2nd 2008 9:10AM
Sears+Kmart helped out both companies tho.........
K-mart stock went from .27/share back up to $150/share....I mean hell its lower now of course but it really helped out both companies........
giantenemycrab @ Jul 1st 2008 10:38PM
one crappy company merging with another crappy company, sounds like a match made in heaven.
cy21 @ Jul 1st 2008 10:49PM
lol.. that was.... strange
phanbouy @ Jul 1st 2008 11:00PM
i milked ballbuster online for a while just to squeeze some life out of my $50 Xbox HD DVD drive for a while, and then i dropped them like the bad habit they are. so long, and thanks for all the fish.
netflix FTW
Duy @ Jul 1st 2008 11:33PM
I guess I'm the only one that feels pity for Circuit City. While their selection compared to Best Buy is lacking, their customer service (at least for me) is top notch. During the Wii madness of '06-'07, the local Circuit City opened the store early for the people in line so they could get on with their lives.
Oh well. Maybe a miracle will happen. Monopolistic competition is nasty.
deyanimay @ Jul 1st 2008 11:53PM
even though best buy has a larger selection i think circuit city has slightly better pricing.
Peter @ Jul 2nd 2008 12:02AM
The Best Buy near me just has more useless crap than Circuit City. Circuit City just cuts the crap and only sells the good HDTVs.
Cactus @ Jul 2nd 2008 4:43AM
Yeah, they opened early here as well. And about 2 out of 3 of the people in line who got a Wii were Circuit City employees, some of them even showing up in uniform.
I'm not a Worst Buy "fanboy" (is there such a thing?), but I won't mourn the loss of Circuit City at all. The stores, like many employees, were just completely useless. I'm more concerned about what will happen to the store space once they're gone. In this economy, CC's closing -- with no retailer out there looking to expand -- will kill off a lot of strip malls...
Jack Storm @ Jul 2nd 2008 5:05AM
@ Peter
WTF CC has some of the worst selection in HDTVs, that is unless you like Vizio....
They carry no Pioneer Elites, none of the top Samsungs' like their LED line and the simple sony xbr5 is a special order for them
KnuxSonic @ Jul 1st 2008 11:41PM
Anytime the Best Buy Victory Rap is somehow worked into the story, I cry tears of joy.
MBS @ Jul 2nd 2008 12:01AM
When Keys says "Blockbuster's shareholders" he is referring to himself.
When Keys says "Best interest" he's talking about a short term gain in stock price blockbusters future as a company be damned.
Wildness @ Jul 2nd 2008 12:04AM
What do you get when one big, crappy company buys another big, crappy company? A Ginormous pile of crappy company.
The flip side to the merger would have been one about-to-die dinosaur company instead of two.
WilsonGoneWild @ Jul 2nd 2008 12:21AM
"We takin ova!"
9bit @ Jul 2nd 2008 12:31AM
Merger not in Blockbuster's best interests? I could have told you that.
mayhem85 @ Jul 2nd 2008 12:53AM
It's also crap like this video why I will never work for Best Buy...
can you say brainwashing?
gadgix @ Jul 3rd 2008 2:25PM
most definitely. I worked at best buy years ago and it was pathetic. Those kids were used and abuse and fooled to believe that they were important to the company. Their daily ¨pep rally¨ meetings were so cheesy and fake that I couldn´t understand how some of those kids felt important. It was obvious to me that they could fire me in a second and not even care.
icdeadppl @ Jul 2nd 2008 1:21AM
NO! TY
TwhiT @ Jul 2nd 2008 2:01AM
wat? O_o
Who WOULDN'T want to be bought by Blockbuster? ^_^ kekeke
Michael @ Jul 2nd 2008 9:46AM
All these mergers make think: "Why?". Competition is good, but merger after mergers and we will have stores like in Wall E.
kevin @ Jul 2nd 2008 8:06PM
We already do.. it's called Walmart
Omegablue14 @ Jul 2nd 2008 10:57AM
http://www.youtube.com/watch?v=OkvK3via80I
This video is way better. As someone that has worked at best buy, these videos are why they are better than CC, people actually have fun and like to work at BBY