Blockbuster announces new deals with Fox and Sony

by Jeff Chabot on April 7, 2010

Blockbuster has made new deals with Twentieth Century Fox Home Entertainment and Sony Pictures Home Entertainment to provide customers with day-and-date titles from stores or by mail. Last month Blockbuster also renewed an agreement with Warner Bros. to provide new titles immediately to customers.

“These important steps with three of the leading movie studios will continue a steady supply of top-rated movies for Blockbuster customers,” said Tom Casey, Blockbuster Inc. Executive Vice President and Chief Financial Officer.

Blockbuster says they are planning to cut operating costs by $200 million in 2010 to “preserve cash and further improve liquidity.” The company also stated they are “in discussions with advisors for its bondholders related to debt recapitalization.” Specific terms of the agreements with Fox and Sony were not disclosed.

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