TAKEPLACE: BLOCKBUSTERS STALKING HORSE BID

Monday, February 21, 2011

BLOCKBUSTERS STALKING HORSE BID

DALLAS -- Movie rental chain Blockbuster Inc. said on Monday it signed a $290 million deal to be brought out of bankruptcy by a group of investors.

The offer from Cobalt Video Holdco LLC is a so-called "stalking horse" bid, which Blockbuster hopes will attract other bidders who will offer more.

The Cobalt group includes funds managed by Monarch Alternative Capital LP, Owl Creek Asset Management LP, Stonehill Capital Management LLC and Varde Partners Inc. They all hold secured Blockbuster debt, so they stand to benefit if someone else buys the company for more than the amount they paid for their Blockbuster debt. TWP

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TakePlace was made with you in mind It's about ideas and innovation, creative perspectives, and solutions. We're advocates for change, because change needs friends. We explore complex systems, adaptive agents, modeling, simulation, artificial life, and complex (information, biological, and social) networks. We especially focus on the Web as a complex information network in which we leave abundant traces of our social and semantic activities: what we do, what we are interested in, whom we talk to, what knowledge we acquire and contribute. Our research spans from modeling the dynamic processes that occur on the Web (how information networks grow and evolve, how individual and collective traffic patterns emerge, how attention bursts are generated and shaped by social and search tools) to designing tools that mine the Web to build better search, navigation, management, and recommendation tools (where ‘better’ means more intelligent, autonomous, robust, personalized, contextual, scalable, adaptive, and so on).