Blockbuster Finally Shelves Wacko Plan to Buy Circuit City

Tie two bricks together and they still don’t float:

NYT: Blockbuster said on Tuesday that it was withdrawing its proposal to acquire Circuit City Stores.

The company’s chief executive, James W. Keyes, said that the company had decided that acquiring Circuit City was not in the best interest of Blockbuster shareholders.

Blockbuster had bid more than $1 billion for Circuit City in April.

Silicon Alley Insider has comprehensive coverage of the pros and cons (mostly cons) of the proposed Blockbuster-Circuit City partnership:

Blockbuster Wants Another Foundering Retailer: Offers $1.3 Billion For Circuit City

Blockbuster: Carl Icahn Loves Our Circuit City Bid. Really (BBI)

Circuit City Opens Books To Blockbuster, Icahn – And Investors Still Hate The Deal

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