Blockbuster has offered to buy Circuit City for a reported $1 billion

Blockbuster has offered to buy Circuit City; they are willing to pay $1 to £1.3 billion. Blockbuster would like to purchase Circuit City in the hope that it would help them, as both companies have been suffering just recently.

Circuit City has reported a loss of $200, and Blockbuster has also been making a bit of a loss on their download service. However Blockbuster reckons that by joining both companies it could make the two of them make at least $18 billion a year, as the two companies working together could save money from several synergies that they could create.

Source – Crave via Slash Gear