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Virgin, Blockbuster in Joint Venture: Blockbuster Entertainment Corp. and Virgin Retail Group Ltd. said they are beginning a joint venture to operate big entertainment stores throughout the United States, continental Europe and Australia. The move would give Blockbuster a greater presence in the recorded music business it entered with the recent $185-million acquisition of the U.S.-based Sound Warehouse and Music Plus chains. It will also put Virgin head Richard Branson into the United States with an entertainment partnership similar to those Virgin operates in Britain and Japan with dozens of stores. Terms were not disclosed for the deal between London-based Virgin and Blockbuster, the world’s largest home video retail company based in Ft. Lauderdale, Fla.