UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934

                               (Amendment No. 1)*




                                Blockbuster Inc.
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                                (Name of Issuer)

                 Class A Common Stock, par value $0.01 per share
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                         (Title of Class of Securities)

                                    093679108
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                                 (CUSIP Number)

                                 October 7, 2004
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             (Date of Event Which Requires Filing of this Statement)

Check the  appropriate box to designate the rule pursuant to which this Schedule
13G 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).





CUSIP NO. 093679108
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(1)  Names of Reporting  Persons.  I.R.S.  Identification  Nos. of Above Persons
     (entities only):
                          Somerville Trading Enterprises, LLC
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(2)  Check the Appropriate Box if a Member of a Group (See Instructions) 

                (a)                    (b)
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(3)     SEC Use Only
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(4)     Citizenship or Place of Organization:  Delaware
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Number of Shares Beneficially Owned by
     Each Reporting Person              (5)  Sole Voting Power:        1,816,800
                                             -----------------------------------
                                        (6)  Shared Voting Power:              0
                                             -----------------------------------
                                        (7)  Sole Dispositive Power:   1,816,800
                                             -----------------------------------
                                        (8)  Shared Dispositive Power:         0
                                             -----------------------------------
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(9)     Aggregate Amount Beneficially Owned by Each Reporting Person:
                  1,816,800
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(10)    Check  if  the  Aggregate Amount in Row (9) Excludes Certain Shares (See
        Instructions)
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(11)    Percent of Class Represented by Amount in Row (9):  4.9%
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(12)     Type of Reporting Person (See Instructions):  OO
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Item 1(a).  Name Of Issuer:  Blockbuster Inc.
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Item 1(b).  Address of Issuer's  Principal  Executive  Offices: 1201 Elm Street,
            Dallas, Texas 75270
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Item 2(a).  Name of Person Filing:  Somerville Trading Enterprises, LLC
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Item 2(b).  Address of Principal  Business  Office or, if None,  Residence:  
            Post Office Plaza,  Suite 504, 50  Division Street, Somerville, 
            New Jersey 08876
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Item 2(c).  Citizenship:   Delaware
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Item 2(d).  Title of Class of Securities:  Class A Common Stock, par value $0.01
            per share
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Item 2(e).  CUSIP No.:  093679108
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Item 3.     If This  Statement  Is  Filed Pursuant  to Section  240.13d-1(b)  or
            240.13d-2(b) or (c), check whether the Person Filing is a

            Not Applicable.
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Item 4.  Ownership

          (a)  Amount Beneficially Owned:        1,816,800

          (b)  Percent of Class:  4.9%

          (c)  Number of Shares as to which such person has:

               (i)  sole power to vote or to direct the vote:          1,816,800

               (ii) shared power to vote or to direct the vote:                0

               (iii) sole power to dispose or to direct the 
                     disposition of:                                   1,816,800

               (iv)   shared power to dispose or to direct the disposition of: 0


Item 5.  Ownership of Five Percent or Less of a Class.

         If this  statement  is being  filed  to report the fact that as of  the
date hereof the reporting  person has ceased to be the beneficial  owner of more
than five percent of the class of securities, check the following  [X].





Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.

         Not Applicable.


Item 7.  Identification  and Classification of the Subsidiary Which Acquired the
         Security Being Reported on by the Parent Holding Company.

         Not Applicable.


Item 8.  Identification and Classification of Members of the Group.

         Not Applicable.


Item 9.  Notice of Dissolution of Group.

         Not Applicable.


Item 10.  Certification

          By  signing  below  I certify  that,  to the  best of my 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 such  securities  and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.





                                    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.


                                              October 12, 2004



                                              /s/ Alex Hanson
                                              ----------------------------------
                                              Alex Hanson, Vice President


      Attention: Intentional misstatements or omissions of fact constitute
                Federal criminal violations (See 18 U.S.C. 1001)