Circuit City Stores, Inc. (NASDAQOTH:CCTYQ.PK)
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The Company is a retailer of consumer electronics, home office products, entertainment software and related services.
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The Company is a retailer of consumer electronics, home office products, entertainment software and related services.
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Circuit City, with over $11 billion in sales, and a leader in the electronics retail market, stands to be bought out by stronger competitors wanting a piece of the HD market. Blockbuster (BBI) has already expressed interest in combining their chain with Circuit City. Although suffering themselves attempting to turn around their languishing DVD rental market, they stand to gain ground as the move to HD progresses. Circuit City will add to sales of BBI, if purchased, and BBI has a knack for turning things around. Plus, Carl Icahn, one of BBI's largest shareholders and billionaire, has claimed that he himself will possibly buy CC if BBI fails to make a bid.
Circuit City, although in turmoil at the moment, is a prime candidate for a buyout by BBI, Staples, Fry's Electronics, or Best Buy (or a private equity group).