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Focus on Entertainment Stocks : Spotlight: Blockbuster Entertainment Corp.

July 13, 1993

With the 1992 acquisition of Music Plus and Sound Warehouse, 8-year-old Blockbuster Entertainment became the sixth largest music retailer in the nation. Already, the Ft. Lauderdale, Fla. company boasts that it has 30 million video members and rents 10 million tapes weekly. Under the direction of H. Wayne Huizenga, it reported 1992 revenue of $1.2 billion, up 31% from 1991. Despite concerns over the effect of advanced technology in the video industry, Merrill Lynch projects 1993 revenue of $1.8 billion.

Major Properties * Video: 3,170 video stores * Music: 237 Sound Warehouse and Music Plus stores * Equity interest: 21.3% in Discovery Zone Inc. (indoor playgrounds); 64% in Spelling Entertainment Group Inc.; 35% in Republic Pictures Corp. Financial Data * Market capitalization: $4.2 billion * Cash: $35.4 million * Long-term debt: $173 million * 1992 revenue: $1.2 billion * 1992 profit: $142 million * Earnings per share: $0.76

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