Movie Gallery, Inc. agreed to buy Hollywood Entertainment Corp. for $13.25 a share, or about $850 million, to form the second largest U. S. video store chain. The combined company will have about 2,500 stores in all 50 U. S. states, and $2.5 billion in yearly revenue, Dothan, Alabama based Movie Gallery said in a statement distributed by PR Newswire today. The offer is 1.5 percent higher than Hollywood Entertainment`s closing price of $13.05 on Jan. 7th. Hollywood Entertainment`s purchase by Movie Gallery cancels earlier bids from Leonard Green & Partners LP, a Los Angeles buyout firm, and Blockbuster Inc., the largest U. S. video-store chain that threatened last month to make its $700 million offer hostile. Movie Gallery shares fell 18 cents to $19.07 on Jan. 7 in Nasdaq Stock Market composite trading. Hollywood Entertainment declined 7 cents to $13.05. Hollywood will continue to operate stores under its name and will become a subsidiary of Movie Gallery, the statement said.
Georgia Highway Officials Look To Cut Traffic Deaths Involving Bicyclists
Highway safety officials and cycling advocates are calling on Georgians to make 2013 a safer year for cyclists in Georgia.
Governor Bentley Issues Statement On Deadly Oklahoma Tornado
Governor Robert Bentley issued a statement following the deadly tornado that struck Oklahoma on Monday afternoon.
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Lawmakers Say 'No' To Gov. Bentley's School Tax Credit Amendment
The legislature turned back Governor Bentley's executive amendment to delay school tax credits.
Gun Bill Passes Alabama Legislature On Final Day
A controversial gun bill passed the Alabama legislature on the last day of the session.
One Vehicle Accident In Enterprise Leads To Arrest
On May 16, 2013, the Enterprise Police Department responded to a single vehicle accident at the intersection of Boll Weevil Circle and Lee Street.
Dothan Police Arrest Convicted Sex Offender For Working Too Close To An Area School
On May 17, 2013 the Dothan Police Department arrested Shelly Newton after confirming he worked at a local business too close to a school.
Adopt a Pet 5-17-2013
The Dothan Animal Shelter and Save a Pet need your help in placing lovable animals into good homes.
Two Dothan Men Arrested for Burglary
Ryan Rodriguez and Lamar Wade were arrested for breaking into a Dothan home.
Unedited: James Reading Seeks Another Term
Incumbent claims the city is in good shape.