ENTERTAINMENT

Philips Increases Its Blockbuster Holding: Philips Electronics, the Dutch consumer electronics giant, exercised an option to boost its share in Blockbuster Entertainment, the nation’s largest video retail chain, to 7%. Philips, which had until December to decide on the option, paid $500,000 cash and issued a $54.5-million promissory note to raise its stake from 4.5%, it said in a securities filing. The investment in Blockbuster is paired with an agreement to market Philips’ new CD-based technology at Blockbuster stores.