Tuesday, July 01, 2008

Fire Sale For Circuit City & Blockbuster?

Both CC and Blockbuster are bouncing around absolute all-time lows. If a really masochistic, suicidal Private Equity company felt that they had the cash to burn, they could take majority positions in both companies for less than a $100 million.

At the moment, the light at the end of the tunnel is the vague hope that neither Carl Icahn nor Mark Wattles is yet prepared to give up on their investments, and still want to see a deal get done that nets them a payday. Certainly, at the moment, market sentiment doesn't seem to favor that hypothesis.

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