UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

(Amendment No.1)

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 31, 2010

BLOCKBUSTER INC.

(Exact Name of Registrant as Specified in Its Charter)

(214) 854-3000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Explanatory Note

Blockbuster Inc. (the “Company”) filed a Current Report on Form 8-K on April 7, 2010, disclosing that on March 31, 2010, in exchange for new payment terms in favor of the Company for current and future deliveries of home entertainment offerings, Blockbuster Canada Co., an indirect wholly-owned subsidiary of the Company (“BB Canada”), entered into a (i) guarantee agreement (the “Guarantee”) for the benefit of Twentieth Century Fox Home Entertainment LLC (“Fox”), Sony Pictures Home Entertainment Inc. (“Sony”) and Warner Home Video (“Warner”) (collectively, the “Studios”), pursuant to which BB Canada irrevocably guaranteed the obligations of the Company under trade agreements with the Studios, (ii) a general security agreement (the “Security Agreement”) for the benefit of the Studios pursuant to which BB Canada granted a lien on, and security interest in, substantially all of its assets, and (iii) a collateral trust agreement (the “Collateral Trust Agreement”) among the Studios and a trustee pursuant to which the trustee was appointed to act as collateral trustee for the Studios to hold, receive, maintain, administer and distribute the collateral at any time delivered to the trustee. Included as Exhibits 10.1, 10.2 and 10.3 thereto were copies of the Guarantee, the Security Agreement and the Collateral Trust Agreement, respectively. The copies of the Guarantee and the Collateral Trust Agreement were redacted pursuant to a confidential treatment request submitted by the Company to the Securities and Exchange Commission (the “SEC”).

After discussion with the SEC regarding the confidential treatment request, the Company hereby amends the Current Report on Form 8-K filed on April 7, 2010 and files amended versions of Exhibit 10.1 and 10.3 that reduce the redacted portions.

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.

EXHIBIT INDEX