News broke this week that South Korea Telecom is interested in buying Blockbuster, with insiders telling many agencies and one report running in Reuters. Our take on the move last month by creditors to offer $290 million for the carcass of Blockbuster, was that it was just a way of kicking off the auction. It’s what is known as a stalking horse bid, and is really a guideline of how much the creditors are willing to accept, despite being owed around $1 billion. Blockbuster has every element that you need to build a Netflix rival, both inside the US and out, it’s just that it also comes with 9,000 retailer shops as well. Reuters quoted an unnamed source confirming that…