Blockbuster Auction Kicks Off in New York

Carl Icahn and Dish Network reportedly vying for bankrupt rental chain

(Updated, 4:34 p.m. PST)

The auction for Blockbuster will continue on into Tuesday.

Among those reportedly throwing their hat in the ring for the bankrupt video chain were Carl Icahn, as well as the liquidation firms Gordon Brothers Group and Hilco Merchant Resources.

Bidders packed the U.S. Bankruptcy Court in the Southern District of New York on Monday to make their offers, with a minimum bid of $290 million set by the Dallas based company's leadership. 


Dish Network and billionaire Carl Icahn are among those reportedly set to bid on cash strapped Blockbuster at a New York auction on Monday.

Blockbuster filed for Chapter 11 last fall, after struggling under nearly $1 billion in debt for much of the past year.

It listed the major studios as its unsecured creditors. 

A minimum $290 million has been set and the sale will have to be approved in court on Thursday.

Icahn was a longtime investor in the bankrupt rental chain, he also gave the company a loan that helped it operate after it first entered bankruptcy.