You've got that backwards. If Ford buys the video, he's not blackmailing anybody. The seller would be the blackmailer as the one threatening to release the video unless Ford pays up. That's why Ford will probably never be able to buy the video directly -- the seller would fear being set up for a blackmail sting. However, somebody with deep pockets with an interest in putting this to rest could do so without fear of doing anything illegal.
Nonetheless, from what I've been told, the police are well aware of this video, the identity of the person shopping it and Ford's crack suppliers. The video could be subpoenaed if the police decide to act on this evidence.