You will be redirected back to your article in seconds

B’buster ups credit line

Blockbuster Entertainment Corp., one of two backers of Viacom Inc.’s bid for Paramount Communications Inc., said it has boosted its revolving credit line to $ 1 billion.

In a filing with the Securities and Exchange Commission, Blockbuster said lenders have agreed to make advances of up to $ 1 billion on an unsecured basis for a term of 40 months.

This will apparently triple the dollar amount of the old agreement.

The new pact amends an October 1992 agreement with lenders, the filing said. Blockbuster said then that it had a $ 325 million revolving line of credit.

Blockbuster officials could not be reached for comment.

Viacom has been said to be engaged in talks with Blockbuster and Nynex Corp. to increase their combined $ 1.8 billion investment in Viacom.

Paramount’s board of directors agreed last week to be acquired by QVC Network Inc., and advised its shareholders to embrace QVC’s bid offer over Viacom’s.

The credit agreement is among certain financial institutions and Bank of America National Trust and Savings Assn., the filing said.

More Biz

  • RESTRICTION: NO New York or New

    Time's Up to Stage National Walkout to Support Brett Kavanaugh Accuser

    Blockbuster Entertainment Corp., one of two backers of Viacom Inc.’s bid for Paramount Communications Inc., said it has boosted its revolving credit line to $ 1 billion. In a filing with the Securities and Exchange Commission, Blockbuster said lenders have agreed to make advances of up to $ 1 billion on an unsecured basis for […]

  • emma stone sam mendes louis vuitton

    Emma Stone Re-Teams With Sam Mendes for Louis Vuitton Short Film

    Blockbuster Entertainment Corp., one of two backers of Viacom Inc.’s bid for Paramount Communications Inc., said it has boosted its revolving credit line to $ 1 billion. In a filing with the Securities and Exchange Commission, Blockbuster said lenders have agreed to make advances of up to $ 1 billion on an unsecured basis for […]

  • Greg Berlanti, Robbie Rogers49th Anniversary Gala

    Ricky Martin, Greg Berlanti Laud LA LGBT Center's Work in Trump Era at Vanguard Awards

    Blockbuster Entertainment Corp., one of two backers of Viacom Inc.’s bid for Paramount Communications Inc., said it has boosted its revolving credit line to $ 1 billion. In a filing with the Securities and Exchange Commission, Blockbuster said lenders have agreed to make advances of up to $ 1 billion on an unsecured basis for […]

  • Bill Cosby

    Bill Cosby To Learn His Fate at Sentencing Hearing

    Blockbuster Entertainment Corp., one of two backers of Viacom Inc.’s bid for Paramount Communications Inc., said it has boosted its revolving credit line to $ 1 billion. In a filing with the Securities and Exchange Commission, Blockbuster said lenders have agreed to make advances of up to $ 1 billion on an unsecured basis for […]

  • Ozzy Osbourne Drops Lawsuit Against AEG

    Ozzy Osbourne Drops Lawsuit Against AEG

    Blockbuster Entertainment Corp., one of two backers of Viacom Inc.’s bid for Paramount Communications Inc., said it has boosted its revolving credit line to $ 1 billion. In a filing with the Securities and Exchange Commission, Blockbuster said lenders have agreed to make advances of up to $ 1 billion on an unsecured basis for […]

  • Analysis: Sky Win Boosts Comcast as

    Analysis: Sky Win Boosts Comcast as Global Streaming Wars Heat Up

    Blockbuster Entertainment Corp., one of two backers of Viacom Inc.’s bid for Paramount Communications Inc., said it has boosted its revolving credit line to $ 1 billion. In a filing with the Securities and Exchange Commission, Blockbuster said lenders have agreed to make advances of up to $ 1 billion on an unsecured basis for […]

  • Chrissy Teigen Target collection shop online

    Chrissy Teigen's New Target Collaboration to Launch in Late September

    Blockbuster Entertainment Corp., one of two backers of Viacom Inc.’s bid for Paramount Communications Inc., said it has boosted its revolving credit line to $ 1 billion. In a filing with the Securities and Exchange Commission, Blockbuster said lenders have agreed to make advances of up to $ 1 billion on an unsecured basis for […]

More From Our Brands

Access exclusive content