lonestar-blockbuster_13g.htm

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549

SCHEDULE 13G

Under the Securities Exchange act of 1934
(Amendment No. __)*

Blockbuster Inc.
(Name of Issuer)

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

093679207
(CUSIP Number)

September 30, 2009
(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o           Rule 13d-1(b)
x           Rule 13d-1(c)
o           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 12 Pages
Exhibit Index Found on Page 11
 
 
13G
CUSIP No. 093679207
  

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
 
Lonestar Partners, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)  (a) [     ]
                                          (b) [ X ]
 
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
 
SHARES BENEFICIALLY
OWNED BY
 
EACH
 
REPORTING  PERSON WITH
5
SOLE VOTING POWER
 
-0-
6
SHARED VOTING POWER
 
4,331,900
7
SOLE DISPOSITIVE POWER
 
-0-
8
SHARED DISPOSITIVE POWER
 
4,331,900
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,331,900
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)                                                                                                                      [     ]
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.0%
12
TYPE OF REPORTING PERSON (See Instructions)
 
PN

 
Page 2 of 12 Pages
 
 
 
13G
CUSIP No. 093679207
  

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
 
Lonestar Capital Management LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)  (a) [     ]
                                          (b) [ X ]
 
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
 
SHARES BENEFICIALLY
OWNED BY
 
EACH
 
REPORTING  PERSON WITH
5
SOLE VOTING POWER
 
-0-
6
SHARED VOTING POWER
 
4,331,900
7
SOLE DISPOSITIVE POWER
 
-0-
8
SHARED DISPOSITIVE POWER
 
4,331,900
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,331,900
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)                                                                                                                      [     ]
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.0%
12
TYPE OF REPORTING PERSON (See Instructions)
 
IA, OO

 
Page 3 of 12 Pages
 
 
 
13G
CUSIP No. 093679207
  

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
 
Peter Levinson
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)  (a) [     ]
                                          (b) [ X ]
 
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
NUMBER OF
 
SHARES BENEFICIALLY
OWNED BY
 
EACH
 
REPORTING  PERSON WITH
5
SOLE VOTING POWER
 
-0-
6
SHARED VOTING POWER
 
4,331,900
7
SOLE DISPOSITIVE POWER
 
-0-
8
SHARED DISPOSITIVE POWER
 
4,331,900
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,331,900
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)                                                                                                                      [     ]
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.0%
12
TYPE OF REPORTING PERSON (See Instructions)
 
IN, HC

 
Page 4 of 12 Pages
 
 
 
13G
CUSIP No. 093679207
  

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
 
Jerome L. Simon
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)  (a) [     ]
                                          (b) [ X ]
 
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
NUMBER OF
 
SHARES BENEFICIALLY
OWNED BY
 
EACH
 
REPORTING  PERSON WITH
5
SOLE VOTING POWER
 
-0-
6
SHARED VOTING POWER
 
4,331,900
7
SOLE DISPOSITIVE POWER
 
-0-
8
SHARED DISPOSITIVE POWER
 
4,331,900
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,331,900
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)                                                                                                                      [     ]
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.0%
12
TYPE OF REPORTING PERSON (See Instructions)
 
IN, HC

 
Page 5 of 12 Pages
 
 
 
13G
CUSIP No. 093679207
  

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
 
Yedi Wong
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)  (a) [     ]
                                          (b) [ X ]
 
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
NUMBER OF
 
SHARES BENEFICIALLY
OWNED BY
 
EACH
 
REPORTING  PERSON WITH
5
SOLE VOTING POWER
 
-0-
6
SHARED VOTING POWER
 
4,331,900
7
SOLE DISPOSITIVE POWER
 
-0-
8
SHARED DISPOSITIVE POWER
 
4,331,900
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,331,900
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)                                                                                                                      [     ]
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.0%
12
TYPE OF REPORTING PERSON (See Instructions)
 
IN, HC

 
Page 6 of 12 Pages
 
 
 
Item 1.    Issuer

(a)           Name of Issuer:

Blockbuster Inc. (the “Company”)

(b)           Address of Issuer’s Principal Executive Offices:

1201 Elm Street, Dallas, Texas 75270

Item 2.    Identity And Background
 
   Title of Class of Securities and CUSIP Number (Items 2(d) and (e))
 
   This statement relates to shares of Class B common stock, par value $0.01 per share (the “Shares”), of the Company. The CUSIP number of the Shares is 093679207.
 
   Name of Persons Filing, Address of Principal Business Office and Citizenship (Items 2(a), (b) and (c))
 
   This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the “Reporting Persons.”
 
 
(i)
Lonestar Partners, L.P., a Delaware limited partnership (“Lonestar”), with respect to the Shares held by it;
 
 
(ii)
Lonestar Capital Management LLC, a Delaware limited liability company (“LCM”), the investment adviser to and general partner of Lonestar, with respect to the Shares held by Lonestar;

 
(iii)
Jerome L. Simon (“Simon”), a United States citizen and the managing member of LCM, with respect to the Shares held by Lonestar;

 
(iv)
Peter Levinson (“Levinson”), a United States citizen and the managing director of LCM, with respect to the Shares held by Lonestar; and

 
(v)
Yedi Wong (“Wong”), a United States citizen and the chief financial officer of LCM, with respect to the Shares held by Lonestar.

The citizenship of each of the Reporting Persons is set forth above.  The address of the principal business office of the Reporting Persons is One Maritime Plaza, Suite 750, San Francisco, California  94111.

Page 7 of 12 Pages
 
 
Item 3.    If This Statement is Filed Pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is an Entity Specified in (a) - (k):
 
                Not Applicable.

If This Statement is Filed Pursuant To Section 240.13d-1 (c), Check This Box. [X]

Item 4.    Ownership

The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.

The Shares reported hereby for Lonestar are owned directly by Lonestar.  LCM, as the general partner of and investment adviser to Lonestar, may be deemed to be a beneficial owner of all such Shares owned by Lonestar.  Each of Simon, Levinson and Wong as the managing member, managing director and chief financial officer, respectively, of LCM, may be deemed to be a beneficial owner of all such Shares owned by Lonestar.  Each of LCM, Simon, Levinson and Wong hereby disclaims any beneficial ownership of any such Shares.

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

Not Applicable

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 or Control Person

Not Applicable.

Item 8.    Identification and Classification of Members of the Group
 
       The Reporting Persons are filing this Schedule 13G pursuant to Rule 13d-1(c).  Consistent with Item 2 of the cover page for each Reporting Person above, the Reporting Persons neither disclaim nor affirm the existence of a group among them.

Item 9.    Notice of Dissolution of Group

Not Applicable.

Page 8 of 12 Pages
 
 
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 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 9 of 12 Pages
 
 

SIGNATURES

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

Dated:  October 7, 2009
 
                      LONESTAR PARTNERS, L.P.
 
                     By:    Lonestar Capital Management LLC, its General Partner
 
                      By: /s/ Yedi Wong                                                                           
                          Name:  Yedi Wong
                          Title:  Chief Financial Officer

 
                      LONESTAR CAPITAL MANAGEMENT LLC

 
                      By: /s/ Yedi Wong                
                          Name:  Yedi Wong 
                          Title:  Chief Financial Officer
 
 
                     /s/ Yedi Wong                 
                      Yedi Wong, individually and as attorney-in-fact for each of Jerome L. Simon and Peter Levinson

The Power of Attorney executed by each of Simon and Levinson authorizing Wong to sign and file this Schedule 13G on his behalf, which was filed with the Schedule 13G filed with the Securities and Exchange Commission on June 2, 2009 by such Reporting Persons with respect to the Common Stock of Imperial Sugar Company, is hereby incorporated by reference.

 
Page 10 of 12 Pages
 
 

EXHIBIT INDEX

EXHIBIT 1
Joint Acquisition Statement Pursuant to Section 240.13d-1(k)
 

 
Page 11 of 12 Pages
 
 

EXHIBIT 1
to
SCHEDULE 13
JOINT ACQUISITION STATEMENT
PURSUANT TO SECTION 240.13d-1(k)

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements.  The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him, her or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other entities or persons, except to the extent that he, she or it knows or has reason to believe that such information is inaccurate.

Dated:  October 7, 2009

 
                      LONESTAR PARTNERS, L.P.
 
                      By:     Lonestar Capital Management LLC, its General Partner

 
                      By: /s/ Yedi Wong                                                                            
                          Name:  Yedi Wong
                          Title:  Chief Financial Officer

 
                      LONESTAR CAPITAL MANAGEMENT LLC

 
                      By: /s/ Yedi Wong                                                                          
                          Name:  Yedi Wong 
                          Title:  Chief Financial Officer
 
 
                      /s/ Yedi Wong                                                                                 
                      Yedi Wong, individually and as attorney-in-fact for each of Jerome L. Simon and Peter Levinson

 
Page 12 of 12 Pages