TORONTO, Feb. 21 /CNW/ - Blockbuster Canada Co. provided the following
comment in response to an announcement earlier today by its U.S.
parent, Dallas-based Blockbuster Inc., that it has initiated a process
to sell Blockbuster Inc.
Barry Guest, Vice President and General Manager of Blockbuster Canada,
said, "It will be business as usual in Canada throughout this sale
process. Our doors will be open, our stores fully staffed and our
shelves stocked. Canadians can continue to count on Blockbuster Canada
for the best selection in movies and games as well as our great
customer service at over 400 convenient locations nationwide."
"We are monitoring Blockbuster Inc.'s sale closely and expect that on
completion of that process, Blockbuster Canada will move forward under
new ownership that has a clear and focused vision for our future," said
If approved by a U.S. Court, the sale process for Blockbuster Inc. would
be an auction under which interested parties would submit binding
offers within approximately 30 days of the Court's approval to acquire
Blockbuster Inc. and its subsidiaries, including Blockbuster Canada.
Blockbuster Inc. believes this represents the best means of maximizing
value for its stakeholders.
For more information on Blockbuster Inc.'s announcement, please visit www.blockbuster.com/recapitalization.
About Blockbuster Canada
Blockbuster Canada is an indirect subsidiary of Blockbuster Inc., with
419 stores across Canada. Blockbuster Inc. is a leading global
provider of in-home movie and game entertainment, with stores
throughout the Americas, Europe, Asia and Australia. Blockbuster Canada
may be accessed nationally at blockbuster.ca. Blockbuster Inc. may be accessed worldwide at blockbuster.com.
SOURCE Blockbuster Video Canada
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