Blockbuster Abandons Bid for Circuit City

Blockbuster (BBI) after the close Tuesday announced the termination of its bid for Circuit City (CC). In a statement, Blockbuster CEO Jim Keyes said that “based on market conditions and the completion of our initial due diligence process, we have determined that it is not in the best interest of Blockbuster’s shareholders to proceed with an acquisition of Circuit City.”

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