If Comcast expects to move forward and take back market share from Netflix they need to act soon. So the merger of Comcast and NBC is done. What next? Netflix continues to improve on streaming. Blockbuster has redone it's business model and is streaming, amongst or things, themselves. Sure they still have the brick and mortar stores. Blockbuster's future however is looking brighter than ever and most certainly a revenue stream.
If Comcast were to make a decent offer to Blockbuster most would probably approve the buy-out. The longer Comcast, or any other company that may be currently looking, take the more this will cost them. Think about it for a moment: If Comcast say offered a low ball of $2 Billion they could walk away with the entire company, including overseas business (which I may add is doing very well). That is on the low end also. If they wait until they emerge from bankruptcy, Comcast stands the chance if they decide to acquire Blockbuster of paying twice that or even more. So half now or considerably more later. Investors of comcast would most certainly go with the lesser of the two. After approval of the but out, Comcast has an extra revenue of about $5 Billion. And that is prior to all the new applications, streaming, internet, etc. that Blockbuster is offering.
No offense, but have you not heard of OnDemand? Comcast doesn't need Blockbuster, Blockbuster NEEDs comcast. Comcast already has the set up in place to directly compete with netflix online with their OnDemand, and xfinity tv services. Over time, you will see that the comcast/nbc/universal deal will put comcast in the drivers seat of not only providing internet, phone, and tv services, but movie, and tv show rentals as well. And best part about it is that they already have the network infrastructure in place to deliver it.
There is talk that the studios may up the rental window from 28 days to 60 or 90 days later this year.
If Comcast were to purchase Blockbuster they could use the bricks and mortar stores to market their own services in new geographic markets in addition to renting DVDs and Blu Rays.
Comcast already has a partnership with Blockbuster...dvdsbymail.com. But I don't think Comcast promotes the offer because they don't make money from it. If Comcast owned Blockbuster outright they could really grow this business by sending out flyers to Comcast's millions of cable subscribers.
I think Comcast could take the enterprise debt free for under $2 billion. Maybe $1.5.