When it comes to getting my gadget or video game fix and I don’t want to wait for something to ship from an online store it’s off to Best Buy or Circuit City for me. I also like to watch lots of movies and I am in the movie store almost every Tuesday looking for something cool to watch and Blockbuster is a store of choice. It seems that Blockbuster and Circuit City could see a merger at some time in the near future.

Blockbuster announced today that it has offered to buy Circuit City for $6.00 per share in cash with the offer subject to due diligence. Blockbuster says that the offer was made in a letter sent to Circuit City Chairman and CEO Philip Schoonover on February 17 on behalf of the Blockbuster Board of Directors.

Blockbuster has been rumored to have been secretly working on some new technology in the works that would allow streaming video content from an online rental service direct to consumers televisions, and could be available as soon as the next few weeks. No information has been given on the exact technology or price but the service could again bring the home video renting giant back up to par and possibly ahead in technology, compared to other rival video renting services from Netflix and Apple.

Netflix would be directly affected by this new service by Blockbuster and has recently upgraded their service to provide unlimited streaming to some subscribers, however it streams to their computer and not necessarily to the living room of most consumers. In order to work their way into more entertainment centers, Netflix is also looking into providing streaming video rentals through Microsoft’s Xbox 360 game console.