Viacom Might Sell Stake in Blockbuster
From Bloomberg News
Viacom Inc. may sell its 80% stake in Blockbuster Inc. to a group of private equity firms including Blackstone Group, Quadrangle Group and Thomas H. Lee Partners, people familiar with the discussions said.
The private equity firms would pay at least $2.5 billion for the stake in Dallas-based Blockbuster, the world’s largest video-store chain, the people said.
Viacom Class B shares rose 2 cents to $39.52, and Blockbuster fell 29 cents to $16.94, both on the New York Stock Exchange.
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