SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* WATTLES MARK J (Last) (First) (Middle) 7945 W. SAHARA AVE., SUITE 205 (Street) LAS VEGAS NV 89117 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol BLOCKBUSTER INC [ BBI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 07/02/2010
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock								6,200,000	I	See Notes(1)(24)
Class B Common Stock	07/02/2010		S		250,000	D	$0.12	13,050,000	I	See Notes(2)(24)
Class B Common Stock	07/02/2010		S		100	D	$0.1001	13,049,900	I	See Notes(3)(24)
Class B Common Stock	07/02/2010		S		140,423	D	$0.11	12,909,477	I	See Notes(4)(24)
Class B Common Stock	07/02/2010		S		300	D	$0.1006	12,909,177	I	See Notes(5)(24)
Class B Common Stock	07/02/2010		S		100	D	$0.1005	12,909,077	I	See Notes(6)(24)
Class B Common Stock	07/02/2010		S		1,900	D	$0.1004	12,907,077	I	See Notes(7)(24)
Class B Common Stock	07/02/2010		S		2,100	D	$0.1003	12,905,077	I	See Notes(8)(24)
Class B Common Stock	07/02/2010		S		605,077	D	$0.1	12,300,000	I	See Notes(9)(24)
Class B Common Stock	07/06/2010		S		600	D	$0.099	12,299,400	I	See Notes(10)(24)
Class B Common Stock	07/06/2010		S		2,400	D	$0.0987	12,297,000	I	See Notes(11)(24)
Class B Common Stock	07/06/2010		S		100	D	$0.0983	12,296,900	I	See Notes(12)(24)
Class B Common Stock	07/06/2010		S		2,400	D	$0.0984	12,294,500	I	See Notes(13)(24)
Class B Common Stock	07/06/2010		S		9,600	D	$0.0961	12,284,900	I	See Notes(14)(24)
Class B Common Stock	07/06/2010		S		41,000	D	$0.096	12,243,900	I	See Notes(15)(24)
Class B Common Stock	07/06/2010		S		1,800	D	$0.955	12,242,100	I	See Notes(16)(24)
Class B Common Stock	07/06/2010		S		1,000	D	$0.0956	12,241,100	I	See Notes(17)(24)
Class B Common Stock	07/06/2010		S		5,000	D	$0.0951	12,236,100	I	See Notes(18)(24)
Class B Common Stock	07/06/2010		S		186,100	D	$0.095	12,050,000	I	See Notes(19)(24)
Class B Common Stock	07/07/2010		S		80,000	D	$0.0605	11,970,000	I	See Notes(20)(24)
Class B Common Stock	07/07/2010		S		10,000	D	$0.065	11,960,000	I	See Notes(21)(24)
Class B Common Stock	07/07/2010		S		5,000	D	$0.0603	11,955,000	I	See Notes(22)(24)
Class B Common Stock	07/07/2010		S		405,000	D	$0.06	11,550,000	I	See Notes(23)(24)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* WATTLES MARK J (Last) (First) (Middle) 7945 W. SAHARA AVE., SUITE 205 (Street) LAS VEGAS NV 89117 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* WATTLES CAPITAL MANAGEMENT, LLC (Last) (First) (Middle) 7945 W. SAHARA AVE., SUITE 205 (Street) LAS VEGAS NV 89117 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Includes 6,000,000 shares held directly by Wattles Capital Management, LLC ("WCM") and 200,000 shares held directly by HKW Trust.

2. Includes 9,352,500 shares held directly by WCM and 3,697,500 shares held directly by HKW Trust.

3. Includes 9,352,425 shares held directly by WCM and 3,697,475 shares held directly by HKW Trust.

4. Includes 9,247,108 shares held directly by WCM and 3,662,369 shares held directly by HKW Trust.

5. Includes 9,246,883 shares held directly by WCM and 3,662,294 shares held directly by HKW Trust.

6. Includes 9,246,808 shares held directly by WCM and 3,662,269 shares held directly by HKW Trust.

7. Includes 9,245,383 shares held directly by WCM and 3,661,794 shares held directly by HKW Trust.

8. Includes 9,243,808 shares held directly by WCM and 3,661,269 shares held directly by HKW Trust.

9. Includes 8,790,000 shares held directly by WCM and 3,510,000 shares held directly by HKW Trust.

10. Includes 8,789,460 shares held directly by WCM and 3,509,940 shares held directly by HKW Trust.

11. Includes 8,787,300 shares held directly by WCM and 3,509,700 shares held directly by HKW Trust.

12. Includes 8,787,210 shares held directly by WCM and 3,509,690 shares held directly by HKW Trust.

13. Includes 8,785,050 shares held directly by WCM and 3,509,450 shares held directly by HKW Trust.

14. Includes 8,776,410 shares held directly by WCM and 3,508,490 shares held directly by HKW Trust.

15. Includes 8,739,510 shares held directly by WCM and 3,504,390 shares held directly by HKW Trust.

16. Includes 8,737,890 shares held directly by WCM and 3,504,210 shares held directly by HKW Trust.

17. Includes 8,736,990 shares held directly by WCM and 3,504,110 shares held directly by HKW Trust.

18. Includes 8,732,490 shares held directly by WCM and 3,503,610 shares held directly by HKW Trust.

19. Includes 8,565,000 shares held directly by WCM and 3,485,000 shares held directly by HKW Trust.

20. Includes 8,493,000 shares held directly by WCM and 3,477,000 shares held directly by HKW Trust.

21. Includes 8,484,000 shares held directly by WCM and 3,476,000 shares held directly by HKW Trust.

22. Includes 8,479,500 shares held directly by WCM and 3,475,500 shares held directly by HKW Trust.

23. Includes 8,115,000 shares held directly by WCM and 3,435,000 shares held directly by HKW Trust.

24. Mr. Wattles owns 100% of the membership interests of WCM. Mr. Wattles is the settler and sole trustee of HKW Trust and exercises sole discretion over HKW Trust.

Remarks:

	Mark J. Wattles	07/07/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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