Blockbuster calls the Circuit City merger off, asks for class ring back
By Joshua Topolsky 
posted July 1st 2008 10:01PM
posted July 1st 2008 10:01PM
posted July 1st 2008 10:01PM
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Probably because Circuit City's stock price dropped two bucks in the past month.
Considering it WAS at $4.80, two bucks is quite a bit!
Might have something to do with our stock plummeting and our CEO driving the company and brand into the ground.
Now it's down to $2.55... we'll probably see another CompUSA fallout. Except they probably won't be bought up.
I guess we'll see what'll happen in the next 6 months to a year...
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.
All brick and mortar stores are crapping out. Good riddance to high prices and pushy salesmen.
This merger never made sense to me anyway. Two companies past their prime trying to do something....anything...to stay relevant.
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.
Sears + K-Mart
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........
one crappy company merging with another crappy company, sounds like a match made in heaven.
lol.. that was.... strange
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
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.
even though best buy has a larger selection i think circuit city has slightly better pricing.
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.
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...
@ 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
Anytime the Best Buy Victory Rap is somehow worked into the story, I cry tears of joy.
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.
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.
"We takin ova!"
Merger not in Blockbuster's best interests? I could have told you that.
It's also crap like this video why I will never work for Best Buy...
can you say brainwashing?
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.
NO! TY
wat? O_o
Who WOULDN'T want to be bought by Blockbuster? ^_^ kekeke
All these mergers make think: "Why?". Competition is good, but merger after mergers and we will have stores like in Wall E.
We already do.. it's called Walmart
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