aramation

The airline industry continues to make headlines this week as Delta and Northwest announced it will finally merge as both boards of directors authorized it. The new airline to be called Delta will be the world’s biggest airline based in Atlanta with a combined annual revenue of $31.7 billion, much bigger than American Airlines.

This long rumored merger won’t be without hitch, as Northwest pilots union already voiced concern and announced they will try to stop the deal. That may be too little too late as the soaring fuel price is what ultimately pushed for this deal. Expect to see more airline mergers to be announced in the next few weeks.

[Read full story at New York Times]

Here’s something that was pretty unexpected: Blockbuster has offered to buy Circuit City, for $6 to $8 per share. Circuit City hasn’t provided due diligence as it was required by this morning, so the CEO of Blockbuster has made the offer public.

Read after the jump the full letter addressed to Philip J. Schoonover, CEO of Circuit City, by Jim Keyes.

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