Deposed video rental king Blockbuster filed a motion in U.S. Bankruptcy Court to put itself up for sale, starting an auction in which it already says it has a bidder.
CNNMoney reports an investor group has offered $290 million for the company. Blockbuster is attempting to claw its way out of $1 billion in debt.
Provided the court approves of the sale, Blockbuster can solicit bids for 30 days and the sale would occur before April 20.
What would a buyer need to do to make Blockbuster less of a laughingstock and more of a viable movie-rental option?