Blockbuster, which went into voluntary Chapter 11 in September, said in a statement released moments ago that it has agreed to sell to a group of noteholders -- one of whom happened to be named Monarch Alternative Capital, the very same creditors to whom Tom Hicks owed all those hundreds of millions back when he owned the Texas Rangers. The group, called Cobalt Video Holdco, LLC, has agreed to buy the Renaissance Tower-based company for the low, low, low price of $290 million -- which, per Blockbuster, is the opening "stalking horse" bid should others interested in buying the company step forward offering more.

Nothing's certain, at least not till the bankruptcy court in New York signs off on the offer and spells out the bidding procedures. But, insists CEO-for-now Jim Keyes in the company's official statement, this is the best deal on the table: