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BLOCKBUSTER CHAIRMAN DISPOSES OF SMALL PORTION OF BLOCKBUSTER HOLDINGS TO FINANCE MAJOR LEAGUE BASEBALL FRANCHISE

BLOCKBUSTER CHAIRMAN DISPOSES OF SMALL PORTION OF BLOCKBUSTER HOLDINGS
 TO FINANCE MAJOR LEAGUE BASEBALL FRANCHISE
 FORT LAUDERDALE, Fla., Aug. 12 /PRNewswire/ -- Blockbuster Entertainment Corporation (NYSE: BV) announced today, that consistent with prior announcements, H. Wayne Huizenga, chairman of the board and chief executive officer, sold a small portion of his holdings in the company. Huizenga will use the proceeds of the sale to fund in part the continuing development of his Florida Marlins baseball organization.
 Huizenga sold 1.5 million shares, which constitute approximately nine percent of his holdings in Blockbuster, and he now beneficially owns approximately 14.7 million shares. Allen & Company handled the transaction for Huizenga.
 Blockbuster has approximately 185,000,000 shares outstanding on a fully diluted basis.
 -0- 8/12/92
 /CONTACT: Wally Knief of Blockbuster Entertainment Corporation, 305-832-3250/
 (BV) CO: Blockbuster Entertainment Corporation ST: Florida IN: REA ENT SU:


JB-SS -- FL018 -- 9362 08/12/92 17:36 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
Words:153
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