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Thursday, June 24, 2010 11:25:40 PM
NO REVERSE SPLIT ON BBI STOP SPECULATING, ONLY WRITE ABOUT FACTS NOT YOUR OPINION.
Blockbuster shareholders OK reverse stock split
On Thursday June 24, 2010, 7:12 pm EDT
DALLAS (AP) -- Struggling video rental chain Blockbuster Inc. said Thursday that preliminary results show its shareholders approving a proposed reverse stock split that will enable it the shares to keep trading on the New York Stock Exchange.
A ratio has not been set. But Blockbuster suggested a range between 1-for-15 and 1-for-25 in an earlier filing.
The shares fell 2 cents, or 5.3 percent, to 27 cents in after-hours trading Thursday after ending regular trading unchanged at 29 cents.
Shareholders voting at Blockbuster's annual meeting approved combining Class A shares and Class B shares into a single class of stock at a ratio of 1-for-1.
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