The two-day bankruptcy auction lasted until the early hours of Wednesday morning.
The Colorado-based satellite TV company says it expects to close the deal in the next few months.
Dallas-based Blockbuster filed for chapter 11 bankruptcy protection back in September. In 2004, Blockbuster had more than 9,000 stores, it will soon be down to 1,700.
Dish network says it will work with Blockbuster employees to re-establish the brand as a leader in video entertainment.
The Associated Press contributed to this story.