Some companies get it, some don't. Circuit City Stores, Inc. (NYSE: CC) has been in the camp of companies that don't get it. That may have finally changed today.
The company appears to have finally capitulated and realized its days under its own efforts may be limited. There are two separate announcements this morning, but in reality it is all part of the same issue.
This will allow the company to deal with the activist pressure, and may ultimately lead to the company either being run by a better team or become a subsidiary of another company. The company just issued a release that it has reached an agreement with Wattles Capital Management.
Blockbuster Inc. (NYSE: BBI) and Carl Icahn may finally get their way.
Keep reading the full story at 247WallSt.com.
Jon Ogg is also a producer and editor of the "10 Stocks Under $10" weekly newsletter for 247WallSt.com.
Is Circuit City throwing in the towel?
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