Antioco buy bumps Big Blue shares

Chain also pacts with Papa John's for Total Access promotion

By Cindy Spielvogel -- Video Business, 11/22/2006

NOV. 22 | The stock price of Blockbuster rose about 15% Nov. 22 in heavy trading after chairman and CEO John Antioco reported increasing his stake in the company in an SEC filing.

The share price surpassed the company's 52-week high of $5.13 and remained above $5 after closing the previous day at $4.51.

According to a Nov. 21 SEC filing, Antioco bought 220,000 shares of Blockbuster common stock at $4.66 per share.

In addition to the confidence expressed by the CEO, a Taiwanese report of a planned sale of Blockbuster's stores in Taiwan could have fueled the increase, analysts said.

Blockbuster also announced an alliance with Papa John's Pizza. Customers who go to www.papajohns.com can get a free trial for Blockbuster Total Access along with a $10 card for use in the pizza restaurants.

“Pizza and movies are an irresistible combination,” said Sean Muldoon, VP of partnership development at Papa John’s International. “Papa John’s delivers pizza to the door, and in addition to its extensive store network, Blockbuster delivers DVDs to the mailbox, and it is all done online from the comfort of your own home.”

Papa John research shows that more than 70% of the restaurant’s customers eat pizza while watching DVDs at least once a month.

“We’ve enjoyed working with Papa John’s in the past, and we look forward to increasing our awareness of Blockbuster Total Access with their customer base through this new alliance,” said Curt Andrews, Blockbuster chief marketing officer.

Blockbuster has received increased attention in recent weeks since announcing Total Access  and its exclusive rental distribution deal with The Weinstein Co.