WASHINGTON, June 17 (Reuters) - Hedge fund Marathon Asset Management on Tuesday disclosed that it owns 5.1 percent of the class A stock of Blockbuster Inc BBI.N, the No. 1 U.S. movie rental chain.
The fund indicated in the filing with the U.S. Securities and Exchange Commission that it is a passive stake, and did not disclose when it acquired the shares or the purpose behind the investment.
Turnaround efforts at Blockbuster helped it post better-than-expected quarterly profits last month. Its chief executive also assured investors that the company’s controversial bid to buy Circuit City Stores Inc (CC.N) would not distract from its continued rebound. (Reporting by Karey Wutkowski, editing by Richard Chang)