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Thursday, April 7, 2011

Blockbuster takeover bid by Dish wins judge's OK, (NASDAQ: DISH), (BLOAQ)

Satellite television company Dish Network Corp (DISH.O) can go ahead with its $320 million purchase of Blockbuster Inc (BLOAQ.PK), a bankruptcy judge ruled on Thursday. Judge Burton Lifland's approval gives Dish, led by billionaire Charlie Ergen, control of the one-time video rental leader's 1,700 stores and new ways to market Dish's services. Dish put in the winning bid for Blockbuster at a bankruptcy auction earlier this week, beating out activist investor Carl Icahn, South Korea's SK Telecom Co (017670.KS) and a group of hedge funds led by Monarch Alternative Capital LP. (Reporting by Dena Aubin)

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