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Movie rental chain Blockbuster Inc., which has been trying to avoid filing for bankruptcy protection amid tough competition from rivals such as Netflix Inc., said Thursday that its second-quarter net loss widened.
The company also said it agreed to a new forbearance agreement with debt-holders that will give it more time as it seeks to recapitalize.
Quarterly net loss widened to $69 million, or 32 cents per share, from $37 million, or 21 cents per share, last year. Revenue slipped 20 percent to $788 million.
