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Report: Circuit City May Have Several Bidders


Atlanta Circuit City Stores Inc. has received buyout interest from several strategic and financial bidders, including Blockbuster Inc., and a sales agreement could be announced over the next month, according to a Reuters report.

"I am very confident that we will be seeing who the buyer of Circuit City is in the next three or four weeks and what the price is," Mark Wattles told Reuters by phone after Circuit City's annual meeting in Richmond, Va. Wattles Capital Management owns about 6.5% of Circuit City stock.

Wattles, the founder of Hollywood Entertainment Corp., said he obtained confirmation from parties directly involved that the Circuit City due diligence process "has gone very well and that they indeed have multiple bidders that are very interested" in the consumer electronics retailer.

A Circuit City spokesman declined to comment on Tuesday.

Circuit City opened its financial books to Blockbuster last month and said it was exploring strategic options.

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