Birchhall buys Xtra-vision for €31m

BLOCKBUSTER has sold Xtra-vision to Irish firm Birchhall Investments for up to $45 million (€31m).

Newly formed Birchhall is owned by NCB Ventures and by clients of the securities firm NCB Group.

Blockbuster expects to use a majority of the proceeds from the sale to boost liquidity. Analysts have said liquidity has been a key issue for Blockbuster, which earlier this year faced doubts about its ability to continue operating.