Movie rental chain Blockbuster Inc. (BBI.N: Quote, Profile , Research) has received clearance from regulators in Taiwan to sell the company’s stores and franchises there, a Blockbuster spokeswoman said on Thursday.
The Fair Trade Commission of Taiwan has cleared the way for Blockbuster to sell 89 company-owned stores and 39 franchise locations in Taiwan to Webs-TV Digital International, said Blockbuster spokeswoman Karen Raskopf.
“The stores will continue to operate under the Blockbuster brand,” she said in an e-mail. The company will not release details of the transaction until it is finalized, she said.
Blockbuster Chief Executive John Antioco last month confirmed an approach for its Taiwan arm from Webs-TV Digital International as part of the chain’s effort to shed unprofitable stores abroad and compete in the fast-growing U.S. online DVD rental market.
Dallas-based Blockbuster has about 2,600 stores outside the United States, including the United Kingdom, Brazil and Canada, which account for about 25 percent of the company’s revenue.