Blockbuster Ups Liquidity by $75M30 Oct, 2008 By: Erik Gruenwedel
Blockbuster Oct. 30 said it amended select letters of credit with former parent Viacom from $150 million to $75 million, resulting in an additional $75 million liquidity to the Dallas-based No. 1 DVD rental service’s borrowing capability.
"This will provide us with additional financial flexibility as we continue to reposition Blockbuster into a multichannel provider of entertainment," said Jim Keyes, chairman and CEO of Blockbuster, in a statement.
Blockbuster reports third-quarter financial results Nov. 6.