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MAJORITY OF CITYVISION COMMON SHARES TENDERED; BLOCKBUSTER EXTENDS ACCEPTANCE PERIOD

 MAJORITY OF CITYVISION COMMON SHARES TENDERED;
 BLOCKBUSTER EXTENDS ACCEPTANCE PERIOD
 FORT LAUDERDALE, Fla., Jan. 23 /PRNewswire/ -- Blockbuster Entertainment Corporation (NYSE: BV) today announced that its offer for the ordinary shares (common shares) of Cityvision plc is now unconditional as to the level of acceptances required to close the transaction. As of this morning, valid acceptances covering 71,074,189 common shares (representing approximately 50.21 percent of Cityvision's outstanding common shares) and 969,450 preference shares (representing approximately 10.92 percent of Cityvision's outstanding preference shares) had been received.
 The company also announced that of the valid acceptances received, shareholders holding 61,744,440 common shares (representing approximately 43.62 percent of Cityvision's outstanding common shares) and 693,267 preference shares (representing approximately 7.81 percent of Cityvision's outstanding preference shares) elected to receive Blockbuster common stock under the offers. Accordingly, the number of Blockbuster shares to be issued to Cityvision shareholders would be scaled down to the maximum of 4 million shares available pursuant to the offers.
 The offers have been extended until 3 p.m. GMT on Wednesday, Feb. 12, 1992 so that other Cityvision shareholders may accept the offers now that a majority of the common shares have been tendered.
 It was announced earlier today in London that as of yesterday, the company had received valid acceptances representing 49.95 percent of the common shares.
 -0- 1/23/92
 /CONTACT: Steven R. Berrard of Blockbuster Entertainment Corporation, 305-524-8200/
 (BV) CO: Blockbuster Entertainment Corporation; Cityvision plc ST: Florida IN: REA SU:


AW-JJ -- FL002 -- 2721 01/23/92 10:51 EST
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Publication:PR Newswire
Date:Jan 23, 1992
Words:262
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