NEW YORK (Reuters) - Indebted video retail chain Blockbuster Inc agreed payment terms with two movie studios to allow it to rent DVDs on the same day they go on sale, the company said in a statement on Tuesday.
Blockbuster said the agreements with News Corp's Twentieth Century Fox and Sony Corp's Sony Pictures, as well as a previously announced deal with Time Warner Inc's Warner Home Video, are in exchange for a first lien on Blockbuster Canada Co's assets.
Blockbuster did not give financial details of any of the arrangements.
Last month, Blockbuster said it might need to file for bankruptcy protection to address a roughly $1 billion debt load.
In the statement on Tuesday, it said the new payment terms agreed with Fox, Sony and Warner will help it continue its recapitalization efforts.
(Reporting by Elinor Comlay; Editing by Lincoln Feast)
