DALLAS, April 8 /PRNewswire-FirstCall/ -- Blockbuster
Inc. (NYSE: BBI, BBI.B) today released a statement following
Gregory Meyer's announcement of his
self-nomination to the company's Board of Directors.
"Blockbuster strongly supports James W.
Crystal and the other members in the company's slate for
election as members of the board of directors," said Jim Keyes, Chairman of the Board and Chief
Executive Officer of Blockbuster. "Jim Crystal is very important for his experience
with the company during the last three years and invaluable
assistance in Blockbuster's plans for recapitalization of the
company and the transformation of our business model. His
continuity in board service, along with the others on the company's
slate, will play a key role in our success at Blockbuster.
"We remain committed to our work to recapitalize and continue to
transform Blockbuster into a multi-channel provider of media
entertainment, and believe that our slate of board members provide
the essential experience, understanding and continuity to guide the
company and deliver the best value for all of our shareholders.
"While we have an appreciation for Mr. Gregory Meyer's investment and interest in the
company, those are not sufficient reasons for his candidacy for the
board. We are disappointed Mr. Meyer is pursuing a costly and
disruptive proxy contest. A proxy contest can only serve as a
distraction to the company when attention and resources would be
better used in creating value for stakeholders by implementing our
strategic plan. We assure all of our constituencies that we
remain committed, as always, to doing what is right for our
shareholders, debt holders, employees, and customers," concluded
Mr. Keyes.
About Blockbuster Inc.
Blockbuster Inc. is a leading global provider of rental and
retail movie and game entertainment. The company provides customers
with convenient access to media entertainment anywhere, any way
they want it - whether in-store, by-mail, through vending kiosks or
digitally to their homes and mobile devices. With a highly
recognized brand and a library of more than 125,000 movie and game
titles, Blockbuster leverages its multichannel presence to serve
nearly 47 million global customers annually. The company may be
accessed worldwide at www.blockbuster.com.
Company Statement
Stockholders are urged to read Blockbuster's definitive
proxy statement when it becomes available because it will contain
important information regarding Blockbuster's annual meeting of
stockholders to be held on May 26,
2010. Stockholders and other interested parties may obtain,
free of charge, copies of the proxy statement (when available), and
any other documents filed by Blockbuster with the SEC, at the SEC's
Internet website at www.sec.gov. The proxy statement (when
available) and these other documents may also be obtained free
of charge by contacting Morrow & Co., Inc., the firm assisting
Blockbuster in the solicitation of proxies, toll-free at
1-800-607-0088.
Blockbuster and certain of its directors and executive officers
may, under the rules of the SEC, be deemed to be "participants" in
the solicitation of proxies from Blockbuster's stockholders in
respect of the 2010 annual meeting of stockholders.
Information regarding the interests of such persons, including such
persons' beneficial ownership of Blockbuster common stock is set
forth in Blockbuster's preliminary proxy statement, filed
April 6, 2010, and Blockbuster's
definitive proxy statement to be filed on or around April 16, 2010 with respect to the 2010 annual
meeting of stockholders.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements may also be included from time to time
in our other public filings, press releases, our website and oral
and written presentations by management. Specific forward-looking
statements can be identified by the fact that they do not relate
strictly to historical or current facts and include, without
limitation, words such as "may," "will," "expects," "believes,"
"anticipates," "plans," "estimates," "projects," "predicts,"
"targets," "seeks," "could," "intends," "foresees" or the negative
of such terms or other variations on such terms or comparable
terminology. Similarly, statements that describe our strategies,
initiatives, objectives, plans or goals are forward-looking. These
forward-looking statements are based on management's current
intent, belief, expectations, estimates and projections. These
statements are not guarantees of future performance and involve
risks, uncertainties, assumptions and other factors that are
difficult to predict. Therefore, actual results may vary materially
from what is expressed in or indicated by the forward-looking
statements. The risk factors set forth under "Item 1A. Risk
Factors" in our Annual Reports on Form 10-K and other matters
discussed from time to time in our filings with the Securities and
Exchange Commission, including the "Disclosure Regarding
Forward-Looking Information" and "Risk Factors" sections of our
Quarterly Reports on Form 10-Q, among others, could affect future
results, causing these results to differ materially from those
expressed in our forward-looking statements. In the event that the
risks disclosed in our public filings cause results to differ
materially from those expressed in our forward-looking statements,
our business, financial condition, results of operations or
liquidity could be materially adversely affected and investors in
our securities could lose part or all of their investments.
Accordingly, our investors are cautioned not to place undue
reliance on these forward-looking statements because, while we
believe the assumptions on which the forward-looking statements are
based are reasonable, there can be no assurance that these
forward-looking statements will prove to be accurate. Further, the
forward-looking statements included in this release and those
included from time to time in our other public filings, press
releases, our website and oral and written presentations by
management are only made as of the respective dates thereof. Except
as otherwise required by law, we undertake no obligation to update
publicly any forward-looking statement in this release or in other
documents, our website or oral statements for any reason, even if
new information becomes available or other events occur in the
future.
SOURCE Blockbuster Inc.
