Blockbuster's 'fix' may put studios in a jam.(CEO John Antioco wants moviemakers to lease him movies in exchange for a share of rental receipts)(Backend)(Brief Article)(Column)

NEW YORK Two weeks after his "Revenge of the Media Companies" address at the Variety/Schroder Big Picture confab, Viacom chairman Sumner Redstone formally unveiled for Wall Street the man he hopes will help the conglom exact its measure of revenge.

Blockbuster Entertainment CEO John Antioco made his first formal presentation to financial analysts at the chain's Dallas headquarters, where he outlined his plan to "fix" the video retailer's problems permanently.

Antioco's strategy has already had a remarkable impact on Blockbuster. Revenue was as tip in the first quarter despite the fact that it (lid not open any new stores.

But Antioco's plan for …