April 5, 2011 – NEW YORK (Reuters) - Blockbuster Inc has received five qualifying bids at a bankruptcy auction that will determine whether the movie rental chain will stay in business or shutter its roughly 1,700 remaining stores, a lawyer for the company said.
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Bidders include a group led by billionaire Carl Icahn, the Blockbuster lawyer said on Tuesday at U.S. Bankruptcy Court in Manhattan, where the auction is taking place.
Other bidders include Dish Network Corp, SK Telecom Co, Cobalt Group, and a team including Gordon Brothers Group and Hilco Merchant Resources, the lawyer said.
(Reporting by Dena Aubin in New York; Writing by Jonathan Stempel; Editing by Lisa Von Ahn)