Blockbuster announced yesterday that it acquired American Satellite and Video, Inc., the owner and operator of the Rhino Games retain chain out of Gainesville, Florida. Despite several newstories speculating on Viacom's interest in selling or spinning off its Blockbuster subsidiary (see blog entries 2/11/2004 and 1/28/2004), Blockbuster announced that this purchase would help it to build important business areas. Viacom appears to be prepared to spin-off the movie rental giant this summer. The terms of Blockbuster's acquisition of American Satellite were not disclosed.