Blockbuster's Offer For CC: There Are So Many Questions

Whew.. what a morning. I've been reporting on Blockbuster's surprise $1 billion offer for Circuit City . A lot of interesting questions to ponder here, including:

Why would Carl Icahn choose to finance the $1 billion Blockbuster bid? Why wouldn't Blockbuster just join in a partnership with Circuit City in order to gain access to the customer list and its Firedog services? What sort of exclusives will the combined retailers be able to offer than would compete with the pricing power of Best Buy and Wal-Mart ?

Why bid for retail brick and mortar space at a time when the video industry is going digital?

And, how will activist investor Mark Wattles respond to this new bid for Circuit City? Now that Circuit City appears to be in play, who else will enter the arena? So many questions.

I'll be anchoring the 3 pm hour of the "Closing Bell" today so I'll be pondering rather than responding to these questions. That said, I'd like to know what you're thinking. What value is there in this deal that Wall Street seems to be missing? Write to me:

Questions? Comments?