Block-Bust

The Associated Press: Report: Blockbuster bankruptcy filing soon: "Troubled video-rental chain Blockbuster Inc. could file for bankruptcy protection as early as Wednesday, according to a Wall Street Journal article.
Citing unnamed sources, the Journal said Blockbuster is working with creditors to develop a bankruptcy restructuring plan that would free it of debt and allow the company to keep some stores open and focus more on digital distribution.
If Blockbuster misses an interest payment on Sept. 30, more than $900 million in debt will be due in full.
The article says billionaire investor Carl Icahn owns one-third of Blockbuster's debt and would return to the company's board once it exits Chapter 11. He resigned from the board in January.
Blockbuster and Icahn did not return calls for comment."