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From Times Staff and Wire Reports
Philips Gets Blockbuster Shares: Philips Electronics announced that it will exercise its option to acquire 6 million common shares of Blockbuster Entertainment Corp. in return for the $66 million it invested in Blockbuster, the nation’s leading video-rental chain. The deal will give Philips, the Dutch electronics giant, a 4.5% stake in Blockbuster. Philips has the option to acquire another 5 million shares.
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