Blockbuster Inc. , the movie rental chain, received interim approval from a bankruptcy judge yesterday for $45 million in financing from a promised loan that will grow to $125 million at the final hearing on Oct. 19.
David Wormsley, the Citigroup Inc. banker accused by Terra Firma Capital Partners Ltd. founder Guy Hands of misleading him about an auction of EMI Group Ltd. , said he was the victim of a lie told by Hands the weekend before the bidding in May 2007.
Fast-growing Internet services like Netflix Inc., online movie purchases and DVD rentals from Redbox kiosks lifted U.S. home-video spending in the third quarter, countering the continued drop in DVD sales.
Blockbuster Inc. ’s bankruptcy counsel, Weil Gotshal & Manges LLP , said its work for film studios doesn’t create a conflict of interest with its representation of the movie-rental company, as an investor claims.
I can’t think of a better holiday gift for cinephiles than “ The Elia Kazan Collection ,” a boxed set of 15 Kazan films from 20th Century Fox Home Entertainment, four of which have never before appeared on DVD.