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FTC Asks Court to Compel Blockbuster on Hollywood Bid Data

Authored by Mark Hefflinger on March 4, 2005 - 7:17am.
Washington -- The Federal Trade Commission on Friday took video rental giant Blockbuster to court to compel the company to provide additional details of its bid to acquire No. 2 video chain Hollywood Entertainment. In its motion filed with the U.S. District Court for the District of Columbia, the FTC said Blockbuster's response to its initial request was "insufficient and inadequate," and asked the court for additional time to review the merger proposal with the corrected Blockbuster data. Hollywood Entertainment has already rejected Blockbuster's $1.3 billion bid for the company in favor of a lower offer from Movie Gallery, the nation's third-largest movie rental chain. However, Blockbuster said in response to the FTC inquiry that it will still go ahead with its takeover bid.
tags: FTC | Blockbuster | Court | Hollywood Bid Data |