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)
- Qualcomm Inc promoted Chief Operating Officer Steve Mollenkopf to chief executive in a surprise move that follows investor pressure on the phone chipmaker to return capital and speculation that he might be poached to run Microsoft.
WASHINGTON - U.S. small business sentiment bounced back from a seven-month low in November, with owners setting their sights on creating more jobs and expanding operations.
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.