Blockbuster Withdraws Plan to Acquire Circuit City
Dallas Blockbuster Inc. said Tuesday it is withdrawing its proposal to buy Circuit City Stores Inc.
Blockbuster CEO James Keyes said in a written statement that the proposed deal, at a price of more than $1 billion, didn’t make sense because of market conditions.
Blockbuster will still try to merge content, such as movies and games, with the sale of electronic devices under one roof—but it will be at Blockbuster’s own stores, Keyes said.
Circuit City CEO Philip J. Schoonover said his board was still exploring strategies to help shareholders, which he said didn’t require Blockbuster’s presence.
NEW YORK Paul Ward has been named to the newly formed position of evp of primetime acquisitions and strategy for Nickelodeon/MTVN Kids and Family Group.
Ward comes back to Nickelodeon and the MTVN Kids and Family Group after serving as senior vp of communications for TV Land, where he oversaw and managed all facets of publicity, media relations and pro-social efforts for the network.
Golf Galaxy ceo to leave in July
PITTSBURGH Randall Zanatta as stepping down as president and ceo of Golf Galaxy, a subsidiary of Dick’s Sporting Goods.
Zanatta served in the position for a little more than a year and his departure will be effective in mid-July.