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BLOCKBUSTER, SONY MUSIC ENTERTAINMENT AND PACE TO FORM JOINT VENTURE AND MERGE AMPHITHEATER OPERATIONS

 NEW YORK, Nov. 1 /PRNewswire/ -- Blockbuster Entertainment Corporation (NYSE: BV), Sony Music Entertainment and PACE Entertainment Corporation jointly announced today the formation of a joint venture partnership to develop and operate musical concert amphitheaters in North America, Europe and other international markets.
 Sony Music Entertainment and PACE will contribute their amphitheaters in Pittsburgh and Raleigh, N.C., and amphitheaters under development in Camden, N.J., and Tampa, Fla., to the joint venture. Blockbuster will add its amphitheaters in Charlotte, N.C., and Phoenix and its newly opened facility in San Bernardino, Calif., to the partnership and PACE will contribute its interest in amphitheater operations in Houston and Nashville, Tenn. The joint venture partnership will be managed by PACE.
 "The opportunity to develop projects with Blockbuster Entertainment is both exciting and promising," said Thomas D. Mottola, president and chief operating officer of Sony Music Entertainment. "Together we can expand each other's entertainment capabilities and present great performers, in venues that will best showcase their talents, to audiences around the world."
 H. Wayne Huizenga, chairman and chief executive officer of Blockbuster Entertainment Corporation, said "Blockbuster Entertainment's vision is to present the widest possible range of entertainment to the widest possible audience. Combining the strengths and resources of Blockbuster, Sony Music Entertainment and PACE is a natural fit."
 Allen J. Becker and Brian E. Becker, chairmen of PACE Entertainment Corporation, added the "our aim is to make each event we present an enjoyable and memorable experience." They went on to say that "we believe there are considerable opportunities for new performance venues in many parts of the world, and we are committed to providing audiences and performers alike with a high-quality outdoor performance venue in an international context."
 -0- 11/1/93
 /CONTACT: Gregory K. Fairbanks of Blockbuster Entertainment, 305-832-3000; Mary Ellen Cataneo of Sony Music Entertainment, 212-833-5047; or Kristie Moses of PACE Entertainment, 713-621-8600/
 (BV)


CO: Blockbuster Entertainment Corporation; Sony Music Corporation;
 PACE Entertainment Corporation ST: Florida, New York, Texas IN: ENT SU: JVN


RK-PC -- FL003 -- 8971 11/01/93 08:47 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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