DALLAS, May 21 /PRNewswire-FirstCall/ -- Blockbuster Inc.
(NYSE: BBI, BBI.B), a leading global provider of media
entertainment, today announced that its Board of Directors has
nominated Kathleen Dore for election
to the Blockbuster Board of Directors at the Company's 2010 Annual
Stockholders' Meeting, scheduled to occur on June 24, 2010 in Dallas, Texas. Dore has been nominated to fill
the seat to be vacated by James
Crystal, who has announced that he will not stand for
re-election at the meeting.
"We are delighted to nominate Kathleen to the Blockbuster Board
of Directors and believe her leadership experience in the media and
entertainment industry will support the transformation of
Blockbuster into the leading multi-channel provider of media
entertainment," said James W. Keyes,
Chairman and Chief Executive Officer. "Kathleen has a proven
history of developing effective strategic partnerships and she has
demonstrated success in building profitable subscriber bases."
Dore is a veteran cable television executive with over three
decades of media and entertainment industry leadership experience.
She most recently served as President, Broadcasting, at
Canwest Media, Inc., a Canadian media company with a portfolio of
world-class brands spanning across multiple media platforms.
Prior to joining Canwest, Dore served in various roles at
New York-based Rainbow Media,
including President, Entertainment Services, for cable networks AMC
(American Movie Classics), IFC (Independent Film Channel) and WE
(Women's Entertainment). Dore also was responsible for the
growth and expansion of Bravo, growing its subscriber base from
500,000 to 68 million during her tenure as President from 1996
until 2002. She currently serves as Senior Advisor to Proteus
International, Inc., a management consulting firm specializing in
organizational vision, strategy and leadership. Dore currently
serves on the board of Canadian Film Center, University of Iowa Foundation, and Tippie College of Business, University of Iowa.
As previously reported, Blockbuster also nominated Jay Fitzsimmons for election to the Board to
fill the seat to be vacated by Robert
Bowman, who will not stand for re-election. From 1994 to
2007, Fitzsimmons served in senior financial roles with Wal-Mart
Stores, Inc., including Senior Vice President, Finance and
Treasurer, where he managed strategic planning, the Board of
Directors Finance Committee, financial operations and corporate
mergers and acquisitions. During Fitzsimmons' tenure with Wal-Mart
Stores, the company became the world's largest retailer and an
unparalleled leader in supply chain efficiency.
Fitzsimmons also served as Chief Financial Officer for Wendy's
International, Inc., bringing extensive experience with another
multi-billion dollar company and a broad store base to Blockbuster.
In addition, Fitzsimmons has impressive corporate director
credentials, having previously served as a member of the board and
audit committee of the Federal Reserve Board of St. Louis and currently serving as a board and
audit committee Member of Mexican Restaurants Inc. and an advisory
board member of The University of
Chicago's Graduate School of Business.
"Jay's retail and financial experience for the world's largest
retailer make him an ideal candidate to join our Board," said
Keyes. "Blockbuster will benefit from his financial acumen and his
expertise in organizational efficiency."
In announcing his decision to not stand for re-election,
Jim Crystal said, "I would like to
thank the Board and management of Blockbuster for their support
during my tenure on the Board. I wish my colleagues on the
Board and the management all the best in continuing to build a
leading and innovative company at Blockbuster. My departure from
the Board will coincide with the nomination of two new Board
candidates who will bring considerable industry experience and
strength to the company's leadership team."
"On behalf of Blockbuster, our Board of Directors and key
stakeholders, I deeply appreciate the dedicated service that Jim
has provided as a director," said Keyes. "He is one of the
world's most talented and seasoned risk management professionals
and has been instrumental in advising Blockbuster through our
transformation."
"Moving forward, we are confident that with the addition of
Kathleen and Jay to the team of directors we have already
assembled, we will have the right skill set at the Board level to
lead Blockbuster through this critical period," Keyes
concluded.
About Blockbuster Inc.
Blockbuster Inc. is a leading global provider of rental and
retail movie and game entertainment. The company provides customers
with convenient access to media entertainment anywhere, any way
they want it - whether in-store, by-mail, through vending kiosks or
digitally to their homes and mobile devices. With a highly
recognized brand and a library of more than 125,000 movie and game
titles, Blockbuster leverages its multichannel presence to serve
nearly 47 million global customers annually. The company may be
accessed worldwide at www.blockbuster.com.
Company Statement
Stockholders are urged to read Blockbuster's definitive proxy
statement because it contains important information regarding
Blockbuster's annual meeting of stockholders to be held on
June 24, 2010. Stockholders and
other interested parties may obtain, free of charge, copies of the
proxy statement, and any other documents filed by Blockbuster with
the SEC, at the SEC's Internet website at www.sec.gov. The
proxy statement and these other documents may also be obtained free
of charge by contacting Morrow & Co., Inc., the firm assisting
Blockbuster in the solicitation of proxies, toll-free at
1-800-607-0088.
Blockbuster and certain of its directors and executive officers
may, under the rules of the SEC, be deemed to be "participants" in
the solicitation of proxies from Blockbuster's stockholders in
respect of the 2010 annual meeting of stockholders.
Information regarding the interests of such persons,
including such persons' beneficial ownership of Blockbuster common
stock is set forth in Blockbuster's definitive proxy statement,
filed with the SEC on May 21, 2010,
with respect to the 2010 annual meeting of stockholders.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements may also be included from time to
time in our other public filings, press releases, our website and
oral and written presentations by management. Specific
forward-looking statements can be identified by the fact that they
do not relate strictly to historical or current facts and include,
without limitation, words such as "may," "will," "expects,"
"believes," "anticipates," "plans," "estimates," "projects,"
"predicts," "targets," "seeks," "could," "intends," "foresees" or
the negative of such terms or other variations on such terms or
comparable terminology. Similarly, statements that describe
our strategies, initiatives, objectives, plans or goals are
forward-looking. These forward-looking statements are based
on management's current intent, belief, expectations, estimates and
projections. These statements are not guarantees of future
performance and involve risks, uncertainties, assumptions and other
factors that are difficult to predict. Therefore, actual
results may vary materially from what is expressed in or indicated
by the forward-looking statements. The risk factors set forth
under "Item 1A. Risk Factors" in our Annual Reports on Form 10-K
and other matters discussed from time to time in our filings with
the Securities and Exchange Commission, including the "Disclosure
Regarding Forward-Looking Information" and "Risk Factors" sections
of our Quarterly Reports on Form 10-Q, among others, could affect
future results, causing these results to differ materially from
those expressed in our forward-looking statements. In the
event that the risks disclosed in our public filings cause results
to differ materially from those expressed in our forward-looking
statements, our business, financial condition, results of
operations or liquidity could be materially adversely affected and
investors in our securities could lose part or all of their
investments. Accordingly, our investors are cautioned not to
place undue reliance on these forward-looking statements because,
while we believe the assumptions on which the forward-looking
statements are based are reasonable, there can be no assurance that
these forward-looking statements will prove to be accurate.
Further, the forward-looking statements included in this
release and those included from time to time in our other public
filings, press releases, our website and oral and written
presentations by management are only made as of the respective
dates thereof. Except as otherwise required by law, we
undertake no obligation to update publicly any forward-looking
statement in this release or in other documents, our website or
oral statements for any reason, even if new information becomes
available or other events occur in the future.
SOURCE Blockbuster Inc.
