Entertainment retail giant Blockbuster has put up a bid for $1bn on competiton Circuit City in hopes of increasing its market share. Blockbuster has been known by some as losing significant portions of money in the last number of years: $1.6 billion in 2002, almost $1.0 billion in 2003, and $1.2 billion in 2004. In 2007 James W. Keyes (former president and CEO of 7-Eleven) took over and began to remodel the chain.

The entertainment retailer [suggested] that the move would help it compete more efficiently with the likes of Best Buy and Apple's retail operations.

Blockbuster's chief executive James Keyes claimed that the combined company, which would sell both games and consoles, would be well placed to take advantages of the synergies an all-in-one shop would allow.

chautemoc via mcvuk.com »