So Blockbuster (NYSE: BBI) is desperate for a deal, any deal, any which way: after its strange proposal to buy CircuitCity (which will have a tough time going through) comes the news that it is in talks about taking a stake in the new Viacom-led premium TV channel that we reported on last weekend. Under the deal being discussed, Blockbuster would get digital rights to the new channel’s programming in return for an investment in the partnership. The studios involved include Viacom (NYSE: VIA) and its Paramount Pictures unit, MGM Studios, and Lionsgate. The JV is currently in talks with cable operators and other companies about distribution, which is slated for a fall 2009 launch.