<PAGE>




                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549

                           --------------------------

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

                            -------------------------

      Date of Report (Date of earliest event reported): September 15, 2005

                          MERRILL LYNCH DEPOSITOR, INC.
                 (ON BEHALF OF PREFERREDPLUS TRUST SERIES BLC-2)
             (Exact name of registrant as specified in its charter)

        DELAWARE                  001-31233                     13-3891329
    (State or other              (Commission                (I. R. S. Employer
    jurisdiction  of             File Number)               Identification No.)
     incorporation)

 WORLD FINANCIAL CENTER,                                         10080
   NEW YORK, NEW YORK                                          (Zip Code)
  (Address of principal
   executive offices)

                             --------------------------

       Registrant's telephone number, including area code: (212) 449-1000

                      INFORMATION TO BE INCLUDED IN REPORT


SECTION 1.  REGISTRANT'S BUSINESS AND OPERATIONS

            Not applicable.

SECTION 2.  FINANCIAL INFORMATION

            Not applicable.

SECTION 3.  SECURITIES AND TRADING MARKETS

            Not applicable.

SECTION 4.  MATTERS RELATED TO ACCOUNTANTS AND FINANCIAL STATEMENTS

            Not applicable.

SECTION 5.  CORPORATE GOVERNANCE AND MANAGEMENT

            Not applicable.


<PAGE>

SECTION 6.  [RESERVED]

SECTION 7.  REGULATION FD

            Not applicable.

SECTION 8.  OTHER EVENTS

     ITEM 8.01     OTHER EVENTS

          99.1     Distribution to holders of the PreferredPLUS Trust
                   Certificates Series BLC-2 on September 15, 2005.

                           For information with respect to the underlying
                  securities held by PreferredPLUS Trust Series BLC-2, please
                  refer to Belo Corp.'s (Commission file number 001-08598)
                  periodic reports, including annual reports on Form 10-K,
                  quarterly reports on Form 10-Q and current reports on Form
                  8-K, and other information on file with the Securities and
                  Exchange Commission (the "SEC"). You can read and copy these
                  reports and other information at the public reference
                  facilities maintained by the SEC at Room 1580, 100 F Street,
                  NE, Washington, D.C. 20549. You may obtain copies of this
                  material for a fee by writing to the SEC's Public Reference
                  Section of the SEC at 100 F Street, NE, Washington, D.C.
                  20549. You may obtain information about the operation of the
                  Public Reference Room by calling the SEC at 1-800-SEC-0330.
                  You can also access some of this information electronically by
                  means of the SEC's website on the Internet at
                  http://www.sec.gov, which contains reports, proxy and
                  information statements and other information that the
                  underlying securities issuer has filed electronically with the
                  SEC.

                           Although we have no reason to believe the information
                  concerning the underlying securities or the underlying
                  securities issuer contained in the underlying securities
                  issuer's Exchange Act reports is not reliable, neither the
                  depositor nor the trustee participated in the preparation of
                  such documents or made any due diligence inquiry with respect
                  to the information provided therein. No investigation with
                  respect to the underlying securities issuer (including,
                  without limitation, no investigation as to its financial
                  condition or creditworthiness) or of the underlying securities
                  has been made. You should obtain and evaluate the same
                  information concerning the underlying securities issuer as you
                  would obtain and evaluate if you were investing directly in
                  the underlying securities or in other securities issued by the
                  underlying securities issuer. There can be no assurance that
                  events affecting the underlying securities or the underlying
                  securities issuer have not occurred or have not yet been
                  publicly disclosed which would affect the accuracy or
                  completeness of the publicly available documents described
                  above.


<PAGE>

SECTION 9   FINANCIAL STATEMENTS AND EXHIBITS

   ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS

         (a)    Financial statements of business acquired.

                Not applicable

         (b)    Pro forma financial information.

                Not applicable.

         (c)    Exhibits.

                99.1     Trustee's report in respect of the September 15, 2005
                         distribution to holders of the PreferredPLUS Trust
                         Certificates Series BLC-2.


<PAGE>

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.


                                             MERRILL LYNCH DEPOSITOR, INC.

 Date: September 23, 2005                    By:  /s/ Stephan Kuppenheimer
                                                  ------------------------------
                                             Name: Stephan Kuppenheimer
                                             Title: President



<PAGE>



                                  EXHIBIT INDEX


99.1     Trustee's report in respect of the September 15, 2005 distribution to
         holders of the PreferredPLUS Trust Certificates Series BLC-2.
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SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549

                           --------------------------

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

                            -------------------------

      Date of Report (Date of earliest event reported): September 15, 2005

                          MERRILL LYNCH DEPOSITOR, INC.
                 (ON BEHALF OF PREFERREDPLUS TRUST SERIES BLC-2)
             (Exact name of registrant as specified in its charter)

        DELAWARE                  001-31233                     13-3891329
    (State or other              (Commission                (I. R. S. Employer
    jurisdiction  of             File Number)               Identification No.)
     incorporation)

 WORLD FINANCIAL CENTER,                                         10080
   NEW YORK, NEW YORK                                          (Zip Code)
  (Address of principal
   executive offices)

                             --------------------------

       Registrant's telephone number, including area code: (212) 449-1000

                      INFORMATION TO BE INCLUDED IN REPORT

SECTION 1.  REGISTRANT'S BUSINESS AND OPERATIONS

            Not applicable.

SECTION 2.  FINANCIAL INFORMATION

            Not applicable.

SECTION 3.  SECURITIES AND TRADING MARKETS

            Not applicable.

SECTION 4.  MATTERS RELATED TO ACCOUNTANTS AND FINANCIAL STATEMENTS

            Not applicable.

SECTION 5.  CORPORATE GOVERNANCE AND MANAGEMENT

            Not applicable.
SECTION 6.  [RESERVED]

SECTION 7.  REGULATION FD

            Not applicable.

SECTION 8.  OTHER EVENTS

     ITEM 8.01     OTHER EVENTS

          99.1     Distribution to holders of the PreferredPLUS Trust
                   Certificates Series BLC-2 on September 15, 2005.

                           For information with respect to the underlying
                  securities held by PreferredPLUS Trust Series BLC-2, please
                  refer to Belo Corp.'s (Commission file number 001-08598)
                  periodic reports, including annual reports on Form 10-K,
                  quarterly reports on Form 10-Q and current reports on Form
                  8-K, and other information on file with the Securities and
                  Exchange Commission (the "SEC"). You can read and copy these
                  reports and other information at the public reference
                  facilities maintained by the SEC at Room 1580, 100 F Street,
                  NE, Washington, D.C. 20549. You may obtain copies of this
                  material for a fee by writing to the SEC's Public Reference
                  Section of the SEC at 100 F Street, NE, Washington, D.C.
                  20549. You may obtain information about the operation of the
                  Public Reference Room by calling the SEC at 1-800-SEC-0330.
                  You can also access some of this information electronically by
                  means of the SEC's website on the Internet at
                  http://www.sec.gov, which contains reports, proxy and
                  information statements and other information that the
                  underlying securities issuer has filed electronically with the
                  SEC.

                           Although we have no reason to believe the information
                  concerning the underlying securities or the underlying
                  securities issuer contained in the underlying securities
                  issuer's Exchange Act reports is not reliable, neither the
                  depositor nor the trustee participated in the preparation of
                  such documents or made any due diligence inquiry with respect
                  to the information provided therein. No investigation with
                  respect to the underlying securities issuer (including,
                  without limitation, no investigation as to its financial
                  condition or creditworthiness) or of the underlying securities
                  has been made. You should obtain and evaluate the same
                  information concerning the underlying securities issuer as you
                  would obtain and evaluate if you were investing directly in
                  the underlying securities or in other securities issued by the
                  underlying securities issuer. There can be no assurance that
                  events affecting the underlying securities or the underlying
                  securities issuer have not occurred or have not yet been
                  publicly disclosed which would affect the accuracy or
                  completeness of the publicly available documents described
                  above.
SECTION 9   FINANCIAL STATEMENTS AND EXHIBITS

   ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS

         (a)    Financial statements of business acquired.

                Not applicable

         (b)    Pro forma financial information.

                Not applicable.

         (c)    Exhibits.

                99.1     Trustee's report in respect of the September 15, 2005
                         distribution to holders of the PreferredPLUS Trust
                         Certificates Series BLC-2.
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.

                                             MERRILL LYNCH DEPOSITOR, INC.

 Date: September 23, 2005                    By:  /s/ Stephan Kuppenheimer
                                                  ------------------------------
                                             Name: Stephan Kuppenheimer
                                             Title: President
EXHIBIT INDEX

99.1     Trustee's report in respect of the September 15, 2005 distribution to
         holders of the PreferredPLUS Trust Certificates Series BLC-2.