Circuit City buys InterTAN for $284m

In brief Circuit City, the US electronics superstore chain, is buying Canadian retailer InterTAN's for $284m cash.

Intertan operates 500 stores of its own and stocks another 480 or so through franchise agreements. It rades under RadioShack, Rogers Wireless, The Communications' Store Express, and Battery Plus.

Circuit City expects to introduce InterTAN's private label products throughout its 599-strong chain by Autumn, 2004.

The deal is subject to the usual regulatory approvals and, on InterTAN's side, shareholder vote. ®