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MOVIE GALLERY/BLOCKBUSTER BIDS

By: Import User
Updated: January 7, 2009
Last Monday News 18 reported that Dothan based Movie Gallery had won a bidding war to purchase rival video rental chain, "Hollywood Entertainment". We also told you that Movie Gallery had out-bid it`s competitor, Blockbuster, Inc. for the purchase. Now it looks like the deal could be off, as Blockbuster has indicated this week that it may raise it`s bid. Apparently the battle now also hinges on market-leader Blockbuster gaining anti-trust approval to buy Hollywood. Movie Gallery is expected to face no regulatory issues. If the standing deal does go through, Movie Gallery will pay 850 million dollars to acquire Hollywood Entertainment.
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