Dish Completes Blockbuster Buy

Has 90 days to decide on store leases
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Dish Network said late Tuesday that it has completed its purchase of troubled video rental giant Blockbuster.

Dish bested other bidders - including activist investor Carl Icahn and a group of bondholders led by Monarch Alternative Capital - for Blockbuster earlier in April for about $320 million.

"We are pleased to have purchased the assets of Blockbuster and look forward to building on the nationally recognized Blockbuster brand while improving the experience of delivering entertainment to consumers," said Dish Network executive vice president Tom Cullen in a statement.

Dish had planned to close the deal last Thursday, but was held up after it could not immediately decide which of the 1,500 Blockbuster retail locations across the country it would keep open. A bankruptcy court judge on Tuesday gave Dish a 90-day extension to July 21 to make a final decision, which freed the company to close the deal.

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