Retail Industry
Industry: Email Alert RSS FeedWJB to buy 48 of Cox Cable Blockbusters. (WJB Video, Cox Cable, Blockbuster Entertainment video stores)
Video Business, August, 1991 by Niesyn, Betsy
WJB to buy 48 of Cox Cable Blockbusters Cox Cable, Blockbuster Entertainment's third-largest franchisee, has agreed to sell more than half of its stores to WJB Video, the chain's largest franchisee. Dave Andersen, VP of public affairs at Cox Enterprises, said Cox has signed a letter of intent to sell 48 of its 86 franchise stores to Spartanburg, N.C.-based WJB.
The outlets are located in Virginia, Georgia, Alabama, Mississippi and Florida. Under terms of the agreement, WJB will purchase outright a 50% interest in the stores and will take over their management; it will purchase the remaining interest in the 48 stores within three years. With the acquisition, WJB will have 200 Blockbuster stores, or 23% of all franchised outlets. UI Video of...
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