SAN FRANCISCO (MarketWatch) — Blockbuster Inc. said late Thursday it entered a forbearance agreement with some of its bondholders as it holds talks to recapitalize the company. Under the agreement, some holders of Blockbuster’s 11.75% senior secured notes due 2014 have agreed not to exercise certain rights and remedies following Blockbuster’s failure to make July 1 payments. Blockbuster said the agreement will preserve about $42.4 million of liquidity. Earlier in the day, Blockbuster said that it expects to be delisted from the New York Stock Exchange after a reverse stock split failed to get a majority of “yes” votes.
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