ENTERTAINMENT

Blockbuster Buying Its Largest Franchise Owner: The video rental giant will issue 7 million shares valued at about $156 million for WJB Video, a limited partnership that owns 209 Blockbuster stores, mostly in the Southeast. Blockbuster also acquires the right to develop 50 children’s FunCenters through Discovery Zone, a company with close ties to Fort Lauderdale, Fla.-based Blockbuster. WJB executive George D. Johnson Jr. will join Blockbuster as president of its consumer division.