Blockbuster Narrows 3Q Loss

Dallas, Blockbuster Inc. reported a net loss of $491.4 million in the third quarter, compared to a $1.49 billion net loss in the year-ago period. Revenues fell 1.7% to $1.39 billion on a worldwide same-store sales decline of 3.8%.

Blockbuster added that it will reduce its costs by more than $100 million in 2006 and $50 million more in 2007 due to overhead reductions, lower marketing spend and non-core divestitures.