To get to the sale on your Mac:

– Launch iTunes
– Find the Blockbuster July pane as it scrolls across the top of the iTunes window, tap it

In iOS:

– Launch the iTunes Store app:
– Tap the Movies tab (bottom of the screen)
– Tap the Featured tab (top of the screen)
– Find the Blockbuster July pane as it scrolls across the top of the screen, tap it

Once a movie goes on sale, it appears to stay on sale. For example, the linked article references Pineapple Express, yesterday’s sale movie. It’s still $4.99 in the US store.

Also, different countries appear to have different movies on sale. Rights issues, no doubt.