Blockbuster Makes $1.35B Bid for Circuit City

Consumer-electronics chain has $1.3B in inventory to get rid of

(NEWSER) - Circuit City will begin the liquidation of $1.3 billion in inventory across 567 stores in special sales tomorrow, Reuters reports. The company hasn’t said anything specific on the discounts it might offer, but markdowns are likely to be deep. Gift cards from the chain will be redeemable at the sales, but worthless after the stores close. More»

From AOL to Motorola to Circuit City, these companies couldn't keep up

(NEWSER) - It’s been an amazing decade for technology, but not everyone came out ahead. CrunchGear considers the big losers of the '00s, starting with the biggest: Brick and mortar retailers. Once consumers learned to trust online merchants, lots of stores—we’re looking at you Circuit City and CompUSA—went the way of the dodo, driven out by the lower prices and long-tail advantages of the Internet. So they’re the biggest losers. Runners-up: More»

Pioneer, Vizio axe plasma production lines; retailers slash prices

(NEWSER) - TV buyers are increasingly choosing liquid-crystal-display over plasma as LCD manufacturers beef up the technological capabilities of their sets, the Wall Street Journal reports. With 30 million LCDs sold in North America in 2008, compared with 4 million plasmas, Pioneer and Vizio are discontinuing their plasma lines. The shift means consumers can find deep discounts on plasma sets, once a strictly luxury item. More»

(NEWSER) - Blockbuster kicked off its latest reinvention effort today, announcing a new plan to beam on-demand movies through TiVo DVRs. One senior VP called the deal “step one in getting to the places that consumers care about.” Blockbuster will also sell TiVo DVRs in its stores, as part of a move to reposition the chain as part-consumer electronics retailer, USA Today reports. More»

Dropping consumer spending, tightening credit hurt the electronics giant

(AP) - Circuit City Stores has filed for bankruptcy protection today, about a week after it said it would close 20% of its stores. The electronics retailer, based in Richmond, Va., has struggled as nervous consumers spend less and credit tightens. More»