Once the king of home video movie rentals, Blockbuster has found itself in dire straits competing with popular services like Netflix and Redbox.  But the struggling company is doing everything it can to avoid bankruptcy announcing Tuesday that it had struck a deal giving first lien on its Canadian assets to Warner Bros., Sony and Fox in exchange for day-and-date delivery of DVD rentals of the studios’ releases.

THR reports that Warners will also be giving Blockbuster dibs on their movies a full 28 days before Netflix and Redbox and will alter the terms of current payment arrangements to temporarily free Blockbuster of financial obligations to utilize and move more capital as it staves off bankruptcy.

The details of the Sony and Fox deals are thought to be similar, though the exact terms were not announced Tuesday.

“These positive signs of studio support are part of our overall recapitalization effort to drive top-line performance while reducing debt and operating costs at Blockbuster,” Blockbuster CFO Tom Casey said. “This affirms our strong and collaborative business relations with these critical vendors.”

“The Blind Side” and “Sherlock Holmes” were the first two films affected by the day-and-date deal, which should give Blockbuster a small, but much needed advantage over its competitors.