Blockbuster: Not Dead Just Yet

Blockbuster (BBI) shares rallied sharply Wednesday after the company announced a reduction in the letters of credit it maintains on behalf of Viacom (VIA), the company’s former parent, to $25 million from $75 million. The company said the change reflects a reduction in Viacom’s exposure to Blockbuster’s lease obligations.

The move is the latest in a series of steps the company is taking to get its financial house in order; last week it signed a deal to sell its 186-store, Ireland-based Xtra-Vision chain for up to $45 million.

Read the rest of this post on the original site

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »