Blockbuster Agrees to $290M “Stalking Horse” Bid

DALLAS-As part of its bankruptcy process, the company has agreed to be acquired by a “stalking horse” bidder for $290 million.

By Jennifer Duell Popovec | February 22, 2011 at 09:39 AM

DALLAS-As part of its bankruptcy process, Blockbuster Inc. has agreed to be acquired by a “stalking horse” bidder for $290 million.

The stalking horse bidder is Cobalt Video Holdco, LLC, a company formed by funds managed by Monarch Alternative Capital LP, Owl Creek Asset Management LP, Stonehill Capital Management LLC and V

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