Blockbuster Buying Circuit City for Buzzwords

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Tech Observer

Main

Rating Everything Google and the Myth of the Too-Power...

Apr 14 2008 9:16AM EDT

So Blockbuster says it wants to buy Circuit City, and hardly anybody can figure out why. (Let's see...you're in one dying business and so you go out and buy another dying business...)

There was hope that Blockbuster CEO Jim Keyes (who used to be CEO of 7-Eleven) would explain it all in this morning's conference call. Instead, he gave a seminar on empty business phrases, throwing around stuff about Blockbuster's "repositioning business model," convergence, digital content, and an "ultimate digital distribution" strategy. None of it explains why Blockbuster and Circuit City would be good camp buddies -- other than the vague hint that both stores can sell and rent DVDs and games.

Apparently Blockbuster shareholders don't think much of Keyes' idea. Before the markets even opened, Blockbuster shares were down 12%.

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