UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )
BLOCKBUSTER INC.
------------------
(Name of Issuer)
Class B Common Stock, $0.01 par value per share
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(Title of Class of Securities)
093679207
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(CUSIP Number)
February 28, 2007
--------------------------
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Continued on following pages
Page 1 of 10 Pages
Exhibit Index: Page 9
SCHEDULE 13G
CUSIP No.: 093679207 Page 2 of 10 Pages
...............................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL MANAGEMENT, LLC
...............................................................................
2. Check the Appropriate Box if a Member of a Group
(a) |_|
(b) |_|
...............................................................................
3. SEC Use Only
...............................................................................
4. Citizenship or Place of Organization
Delaware
...............................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 4,108,000
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 4,108,000
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,108,000
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
|_|
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
5.71% based on 72,000,000 Shares outstanding as of February 26, 2007.
...............................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 093679207 Page 3 of 10 Pages
...............................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL GP, LLC
...............................................................................
2. Check the Appropriate Box if a Member of a Group
(a) |_|
(b) |_|
...............................................................................
3. SEC Use Only
...............................................................................
4. Citizenship or Place of Organization
Delaware
...............................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 4,108,000
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 4,108,000
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,108,000
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
|_|
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
5.71% based on 72,000,000 Shares outstanding as of February 26, 2007.
...............................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 093679207 Page 4 of 10 Pages
...............................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
LAWRENCE M. ROBBINS
...............................................................................
2. Check the Appropriate Box if a Member of a Group
(a) |_|
(b) |_|
...............................................................................
3. SEC Use Only
...............................................................................
4. Citizenship or Place of Organization
United States of America
...............................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 4,108,000
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 4,108,000
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,108,000
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
|_|
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
5.71% based on 72,000,000 Shares outstanding as of February 26, 2007.
...............................................................................
12. Type of Reporting Person:
IA
Page 5 of 10 Pages
Item 1(a). Name of Issuer:
Blockbuster Inc. (the "Issuer").
Item 1(b). Address of Issuer's Principal Executive Offices:
1201 Elm Street, Dallas, Texas 75270
Item 2(a). Name of Person Filing:
This Statement is filed on behalf of each of the following
persons (collectively, the "Reporting Persons"):
i) Glenview Capital Management, LLC ("Glenview Capital
Management");
ii) Glenview Capital GP, LLC ("Glenview Capital GP"); and
iii) Lawrence M. Robbins ("Mr. Robbins").
This Statement relates to Shares (as defined herein) held for
the accounts of GCM Little Arbor Master Fund, Ltd., a Cayman Islands exempted
company ("GCM Little Arbor Master Fund"); GCM Little Arbor Institutional
Partners, L.P., a Delaware limited partnership ("GCM Little Arbor
Institutional Partners"), and GCM Little Arbor Partners, L.P., a Delaware
limited partnership ("GCM Little Arbor Partners").
Glenview Capital Management serves as investment manager to
each of GCM Little Arbor Master Fund, GCM Little Arbor Institutional Partners,
and GCM Little Arbor Partners. In such capacity, Glenview Capital Management
may be deemed to have voting and dispositive power over the Shares held for
the accounts of each of GCM Little Arbor Master Fund, GCM Little Arbor
Institutional Partners, and GCM Little Arbor Partners. Glenview Capital GP is
the general partner of GCM Little Arbor Institutional Partners and GCM Little
Arbor Partners. Glenview Capital GP also serves as the sponsor of the GCM
Little Arbor Master Fund. In such capacities, Glenview Capital GP may be
deemed to have voting and dispositive power over the Shares held for the
accounts of each of GCM Little Arbor Master Fund, GCM Little Arbor
Institutional Partners, and GCM Little Arbor Partners. Mr. Robbins is the
Chief Executive Officer of Glenview Capital Management and Glenview Capital
GP.
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the principal business office of each of
Glenview Capital Management, Glenview Capital GP, and Mr. Robbins is 767 Fifth
Avenue, 44th Floor, New York, New York 10153.
Page 6 of 10 Pages
Item 2(c). Citizenship:
i) Glenview Capital Management is a Delaware limited
liability company;
ii) Glenview Capital GP is a Delaware limited liability
company; and
iii) Mr. Robbins is a citizen of the United States of America.
Item 2(d). Title of Class of Securities:
Class B Common Stock, $0.01 par value per share (the "Shares")
Item 2(e). CUSIP Number:
093679207
Item 3. If This Statement is Filed Pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), Check Whether the Person Filing is a:
This Item 3 is not applicable.
Item 4. Ownership:
Item 4(a). Amount Beneficially Owned:
As of March 9, 2007, each of Glenview Capital Management,
Glenview Capital GP and Mr. Robbins may be deemed to be the beneficial owner
of 4,108,000 Shares. This amount consists of: (A)3,411,800 Shares held for the
account of the GCM Little Arbor Master Fund; (B) 678,100 Shares held for the
account of GCM Little Arbor Institutional Partners; and (C) 18,100 Shares held
for the account of GCM Little Arbor Partners.
Item 4(b). Percent of Class:
The number of Shares of which each of Glenview Capital
Management, Glenview Capital GP and Mr. Robbins may be deemed to be the
beneficial owner constitutes approximately 5.71% of the total number of Shares
outstanding (based upon information provided by the Issuer in its most
recently-filed annual report on Form 10-K, there were 72,000,000 Shares
outstanding as of February 26, 2007).
Item 4(c). Number of Shares of which such person has:
Glenview Capital Management, Glenview Capital GP and Mr. Robbins:
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(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 4,108,000
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 4,108,000
Page 7 of 10 Pages
Item 5. Ownership of Five Percent or Less of a Class:
This Item 5 is not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
This Item 6 is not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company:
See disclosure in Item 2 hereof.
Item 8. Identification and Classification of Members of the Group:
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group:
This Item 9 is not applicable.
Item 10. Certification:
By signing below each of the Reporting Persons certifies that,
to the best of their knowledge and belief, the securities referred to above
were not acquired and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a participant in any
transaction having that purpose or effect.
Page 8 of 10 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Date: March 12, 2007 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
-------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: March 12, 2007 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
-------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: March 12, 2007 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
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Page 9 of 10 Pages
EXHIBIT INDEX
Ex. Page No.
A Joint Filing Agreement, dated March 12, 2007 by and
among Glenview Capital Management, LLC, Glenview Capital
GP, LLC and Lawrence M. Robbins................................. 10
Page 10 of 10 Pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G with
respect to the Class B Common Stock of Blockbuster Inc. dated as of March 12,
2007 is, and any amendments thereto (including amendments on Schedule 13D)
signed by each of the undersigned shall be, filed on behalf of each of us
pursuant to and in accordance with the provisions of Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended.
Date: March 12, 2007 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: March 12, 2007 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
-------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: March 12, 2007 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
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