Business Services Industry
Columbia House-Blockbuster Merger Rumor Entices Wall Street Interest.
Knight Ridder/Tribune Business News, September, 2003
By Maria Halkias, The Dallas Morning News Knight Ridder/Tribune Business News
Sep. 20--Speculation that a merger is in the works between Blockbuster Inc. and Columbia House Co. produced a believable cliffhanger Friday on Wall Street.
The story line that the No. 1 video rental chain and the No. 1 direct marketer of music and movies were in early merger talks garnered positive reviews from investors, who bid up Blockbuster's shares by almost 8 percent in early trading Friday. The stock closed 4 percent higher.
A deal with privately held Columbia House would catapult Dallas-based Blockbuster past its current targets for DVD sales, provide a new but growing channel for its video game business and give it fulfillment centers to compete...
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