Blockbuster is making a hostile takeover bid of just more than US$1 billion for retaiiler Circuit City. Chief Executive James Keyes said combining the companies would create a 9300-store chain that could sell portable devices and entertainment for them, much like Apple Inc.'s stores. The larger would have movie-rental stores inside, and Blockbuster locations would offer a limited selection of electronics.
Circuit City said it doubted Blockbuster could finance the deal and has resisted opening its books. (AP)