Case Study

Blockbuster Inc.
Initial Public Offering

When Blockbuster launched its initial public offering in August 1999, they wanted to make a splash on Wall Street. The company came to The Powell Group for its creativity and media relations savvy – as well as for its ability to think and move fast. National, regional and local public relations plans and a special event had to be put together in just 10 days for two possible dates to announce the official listing on the New York Stock Exchange. All activities needed to balance messages important to the very different consumer and financial audiences.

Secured actress Rene Russo, who had just starred in the theatrical hit “The Thomas Crown Affair,” to ring the NYSE opening bell with Blockbuster CEO John Antioco. Created a Hollywood premiere-themed event outside the NYSE which included 12-foot inflatable letters spelling out “Blockbuster,” a host of celebrity look-alikes and a yellow ticket road made from 6,400 video boxes. Distributed Blockbuster GiftCards, hats and movie packages to Stock Exchange members. Worked with the NYSE to develop a video news release featuring Russo, Antioco and the outdoor street scene. Drafted Blockbuster employee communications that were distributed worldwide via e-mail on the morning of the IPO. One week later, a Web cast of the event was available to employees.

Secured national coverage with the Associated Press, CNBC, CNN, CNNfn, Entertainment Tonight, New York Times, Reuters and Wall Street Journal. Secured local and regional coverage in several publications and broadcast outlets, including The Dallas Morning News, Fort Worth Star-Telegram, The New York Post, local FOX, ABC televison affiliates, KRLD-AM and WBAP-AM.

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