ENGLEWOOD, Colo.--(BUSINESS WIRE)--Blockbuster L.L.C., a wholly-owned subsidiary of DISH Network Corp. (NASDAQ: DISH), announced today that it has completed the sale of Blockbuster Mexico to Grupo Elektra (BMV: ELEKTRA) a company owned by Grupo Salinas.
“We are very pleased to have concluded the sale of Blockbusters' more than 300 retail stores covering the entire country of Mexico,” said Michael Kelly, president of Blockbuster, L.L.C. “We believe that Blockbuster will complement the retail properties currently owned by the Salinas Group.”
“The acquisition of Blockbuster adds more than 300 retail outlets to our distribution network of over 6,460 points of presence in 108 Mexican cities,” said Luis Niño de Rivera from Grupo Salinas. “Together with the diversified products offered by Grupo Elektra, we look forward to providing Blockbuster customers with retail and rental products and services.”
New York based investment bank Athelera L.L.C. advised Blockbuster L.L.C. on this transaction.
DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides approximately 14.049 million satellite TV customers, as of Sept. 30, 2013, with the highest quality programming and technology with the most choices at the best value, including HD Free for Life®. Subscribers enjoy the largest high-definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.
About GRUPO ELEKTRA
Grupo Salinas (www.gruposalinas.com), a group of dynamic, strong growth and technologically advanced companies focused on creating shareholder value, contributing to building the middle class of the countries where it operates, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a forum for the exchange of ideas and best management practices among different management teams of the companies that comprise it. These companies include: TV Azteca (www.tvazteca.com.mx ; www.irtvazteca.com) , Azteca America (www.aztecaamerica.com) , Grupo Elektra (www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx) Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx) and GrupoIusacell (www.iusacell.com). Each of the Grupo Salinas companies operates independently, with its own management, board and shareholders. Grupo Salinas has no equity holdings. The member companies share a common vision, values and strategies for achieving a rapid growth, better results and world-class performance.
Athelera is an expert Mergers & Acquisitions and Strategic Advisory firm that focuses in mid-market transactions throughout the Americas and Europe. Founded in 2000 and with offices in New York, London and Bogota, Athelera has advised on US$11 billion in transactions across multiple industries and geographies. The firm is led by a team of senior bankers with a collective career experience of over US$50 billion in completed transactions, and its unique value proposition is providing its clients with high-quality M&A advice usually available only to large global corporations and transactions. New York-based investment firm Athelera advised Blockbuster, L.L.C. on the transaction.