Blockbuster and PayPal Provide More Ways to Access Entertainment

PayPal Customers Receive $10 Cash Back on New blockbuster.com Subscriptions this Summer

Starting today, entertainment provider Blockbuster Inc. is accepting PayPal as another safe and convenient way to make purchases on the company's web site, blockbuster.com.
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"Blockbuster.com is the only site that offers customers the flexibility to rent DVDs through the mail, purchase them new or used online and, later this summer with the premiere of our new movie downloading service, the ability to purchase or rent digital entertainment," said Keith Morrow, CIO, Blockbuster Inc. "Now with the addition of PayPal, we're also offering customers even greater flexibility in regards to their payment method."

To celebrate the launch of PayPal, Blockbuster is offering PayPal customers $10 cash back for signing up for a new online rental subscription at blockbuster.com. To take advantage of the cash back offer, PayPal customers should visit www.blockbuster.com/paypal.

$1,000,000 In Prize Money Up For Grabs during DIRECTV’s Broadcast of 2008 Championship Gaming Series

CGS Begins its Second Season of Live HD Broadcasts Starting June 16 Exclusively on DIRECTV’s 101 Network

DIRECTV’s The 101 Network brings gaming back to its summer line up with the broadcast of the Championship Gaming Series (CGS) North America and World Final competitions. The action kicks off on DIRECTV’s original entertainment network Monday, June 16 at 10 p.m. EDT and will broadcast live in HD every Monday and Wednesday night leading up to the North America Final July 7 and the World Final starting July 14.

“This has been a record year for the video game industry and interest in professional video gaming has never been higher,” said Eric Shanks, executive vice president DIRECTV Entertainment. “Gaming is the most exciting sport to hit the television industry in years, and we’re dedicating the months of June and July so that our more than 17 million subscribers can take part in all the action, live. With the addition of CGS to our sports line-up, we’ve solidified our placement as the gold standard in programming, providing the most and best sports in HD. No other cable or satellite provider can top our sports offerings.”

Time Warner Cable Prices a $5 Billion Debt Offering

Time Warner Cable Inc. today announced that it has priced a $5 billion underwritten public offering of debt securities, including $1.5 billion aggregate principal amount of 6.20% notes due 2013, $2 billion aggregate principal amount of 6.75% notes due 2018 and $1.5 billion aggregate principal amount of 7.30% debentures due 2038.

The net proceeds from the issuance of the debt securities are expected to be used to finance, in part, a one-time cash dividend to stockholders of Time Warner Cable to be paid just prior to the previously announced separation of Time Warner Cable from its parent company Time Warner Inc. If the separation is not consummated and the special dividend is not paid, Time Warner Cable will use the proceeds from the issuance of the debt securities for general corporate purposes, including repayment of indebtedness. The sale of the debt securities is expected to close on June 19, 2008.