Blockbuster prepares to put itself up for sale: report
NEW YORK (Reuters) - Blockbuster Inc. BLOAQ.PK, which filed for bankruptcy last year, is preparing to put itself up for sale after creditors disagreed on plans to give the chain more cash, the Wall Street Journal reported on Thursday, citing unnamed sources.
Blockbuster now plans to seek buyers, the newspaper reported, saying that investor Carl Icahn and a consortium led by hedge-fund Monarch Alternative Capital are the leading contenders.
A spokesman for Blockbuster declined to comment.
Blockbuster shares were up 12.8 percent at 11 cents on the pink sheets.
(Reporting by Caroline Humer, editing by Gerald E. McCormick)
NEW YORK, March 8 (Reuters-peHUB) - The auction of JP Morgan Chase's private equity business, One Equity Partners, in the market since at least November, has hit an impasse, according to three people with knowledge of the situation.
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.