SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported) May 9, 2000
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GENERAL MOTORS CORPORATION
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(Exact name of registrant as specified in its charter)
STATE OF DELAWARE 1-143 38-0572515
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
300 Renaissance Center, Detroit, Michigan 48265-3000
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (313) 556-5000
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ITEM 5. OTHER EVENTS
On May 9, 2000, General Motors Corporation's (GM) subsidiary, Hughes
Electronics Corporation (Hughes), issued a press release announcing that its'
subsidiary, DIRECTV, Inc., formed a distribution, pay-per-view and marketing
alliance with Blockbuster. The release is as follows:
Blockbuster and DIRECTV Form Distribution,
Pay-Per-View and Marketing Alliance
Companies Plan Co-Branded Pay-Per-View Service on
DIRECTV Platform, and to Sell DIRECTV Systems in
5,000 Blockbuster Stores Nationwide
DALLAS and EL SEGUNDO, CA, May 9, 2000 - Blockbuster Inc. (NYSE: BBI),
the leading renter of video movies and video games, and DIRECTV, Inc.,
provider of the nation's leading satellite television service, announced
today a multi-year agreement to expand Blockbuster's traditional video rental
business for the first time to pay-per-view via the DIRECTV(R)service and
cross market each other's products to more than 50 million combined DIRECTV
and Blockbuster households. Blockbuster is a publicly traded subsidiary of
Viacom, Inc. (NYSE: VIA, VIAB).
The agreement also opens a new distribution channel for DIRECTV through
the 5,000 Blockbuster stores in the United States, including participating
franchise stores, which will begin selling DIRECTV System equipment and service
in Blockbuster stores.
Under the agreement, the companies plan on introducing a co-branded
pay-per-view service on DIRECTV. DIRECTV currently offers as many as 55
pay-per-view choices per day and Blockbuster and DIRECTV will work together to
increase the selection and variety of movies available.
"DIRECTV and Blockbuster are two of the most recognized brand names in
home entertainment, having redefined both the pay-per-view experience and
video-rental experience in the United States," said Bill Casamo, president of
DIRECTV Merchandising, Inc. "Together we have an opportunity to promote our
products to millions of existing and prospective customers, and deliver a
compelling portfolio of home entertainment services."
"Blockbuster is expanding its universe into the fast-growing, satellite
pay-per-view market, giving our members more options for home entertainment than
ever before," said John Antioco, chairman and CEO for Blockbuster Inc. "Our
goal, which we are highly motivated to achieve under this agreement, is to add
significantly to our financial outlook by having as many Blockbuster customers
as possible subscribe to DIRECTV and enjoy movies over pay per view.
"We believe that through our store traffic, our direct mail and
blockbuster.com we can acquire more DIRECTV customers than anyone else and
increase DIRECTV's pay-per-view revenues to the benefit of both companies while
at the same time continuing to grow our store-based video rental business. The
overall effect should be that we grow the entire home entertainment category."
Beginning in the third quarter of this year, Blockbuster will sell DIRECTV
Systems in Blockbuster stores. The DIRECTV Home Services Network will facilitate
installation of DIRECTV Systems purchased by Blockbuster customers. DIRECTV will
also receive significant promotional support that includes signage and in-store
displays, and both companies will promote the alliance through a variety of
local and national marketing and advertising programs.
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DIRECTV, Inc. is the nation's leading provider of digital television
entertainment service with more than 8.5 million customers, including customers
subscribing to PRIMESTAR by DIRECTV. DIRECTV, Inc., a unit of Hughes Electronics
Corporation. Hughes Electronics is the world's leading provider of digital
television entertainment, and satellite and wireless systems and services. The
earnings of Hughes Electronics, a unit of General Motors Corporation, are used
to calculate the earnings per share attributable to the General Motors Class H
common stock (NYSE: GMH).
Blockbuster Inc. (NYSE: BBI) is a publicly traded subsidiary of Viacom
Inc. and is the world's leading renter of videos, DVDs and video games with
more than 7,200 stores in the United States, its territories and 26 other
countries. The company may be accessed internationally at blockbuster.com.
Viacom Inc. is one of the world's largest entertainment companies and a
leading force in nearly every segment of the international media marketplace.
Editor's Note: Photos of Bill Casamo and John Antioco are available for
editorial use at www.wirepix.com/newsphotos.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL MOTORS CORPORATION
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(Registrant)
Date May 9, 2000
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By
s/Peter R. Bible
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(Peter R. Bible,
Chief Accounting Officer)
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