COMPANY TOWN ANNEX

Blockbuster Entertainment Offering Planned: The video rental giant said it plans to sell 12.6 million shares of common stock that it will use to reduce debt that has climbed to about $1 billion with its $600-million investment in Viacom Inc. Analysts said the company should be able to trim its debt by about $350 million. Separately, Blockbuster, Sony Music Entertainment and Pace Entertainment Corp. unveiled plans for a joint venture to develop and operate amphitheaters in North America, Europe and other markets.