Home › content

Video Rental Chain Movie Gallery Submits Rival Bid for Hollywood Video

Authored by Mark Hefflinger on November 19, 2004 - 4:50am.
Dohan, Ala. -- Movie Gallery, the nation's third-largest video store rental chain, announced on Friday that it has submitted its own bid to rival Blockbuster's offer for Hollywood Entertainment Corp., which owns the Hollywood Video rental chain. Alabama-based Movie Gallery, whose stores are prominent in rural and secondary markets, did not disclose how much it offered for Hollywood Entertainment, but it is believed that the company at least matched Blockbuster's $700 million bid for the company made earlier this week. A merger of Movie Gallery and Hollywood Entertainment would still figure as the second-largest rental chain, behind Blockbuster. Movie Gallery CEO Joe Malugen said he believes his company's proposal "presents almost no antitrust risk," adding that "Blockbuster's proposed acquisition would create a dominant player with significant competitive overlap in the vast majority of markets served by Blockbuster and Hollywood Entertainment."
http://biz.yahoo.com/prnews/041119/clf013_1.html
http://biz.yahoo.com/rb/041119/retail_hollywoodentertainment_3.html
http://www.hollywoodvideo.com 
http://www.moviegallery.com

tags: Movies | Videos | Hollywood Video | Gallery | Rival Bid |



Comments

Post new comment

The content of this field is kept private and will not be shown publicly.