Retail Industry
Industry: Email Alert RSS FeedBlockbuster signals resistance to pressure: special dividend appears unlikely.(retail)
Video Business, April, 2005 by Sweeting, Paul
Blockbuster officials did their best to exude an air of calm blast week, even as feared corporate raider Carl Icahn kept up pressure oil. the company. In a memo to employees disclosed in a regulatory filing, chairman-CEO John Antioco said Blockbuster would stick to its plan of investing in new initiatives meant to position the company for long-term growth despite Icahn's demand for a special dividend.
"Regardless of reports or rumors that may persist regarding what others may believe is the right approach to our business, I and our executive management team remain committed to the plans we have laid out," antioco wrote. "I remain excited about Blockbuster's future. With your continued hard work, I believe our efforts will pay off." In a...
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