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MOVIE GALLERY HOLLYWOOD ENTERTAINMENT MERGER

By: Import User
Updated: January 7, 2009
Movie Gallery is one step closer to purchasing it`s number two rival...Hollywood Entertainment. Federal regulators have given the green light to the Dothan based company to proceed with the merger Movie Gallery and Blockbuster have been embroiled in a bidding war for Hollywood over the past several weeks. Movie Gallery claims that Blockbuster`s proposal poses several regulatory problems as more than 80 percent of Hollywood`s stores are in the same market as Blockbuster. Movie Gallery says their proposal should be more attractive to Hollywood shareholders because their all-cash aquisition provides greater certainty of closing.
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