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In response, Hollywood Video agreed to a buyout on January 10, 2005, by Movie Gallery, a smaller competitor. Movie Gallery paid $860 million, $13.25 per share, and the assumption of $380 million in debt.
Movie Gallery paid $860 million, $13.25 per share, and the assumption of $380 million in debt. Stocks closed at $13.85 on January 10 after the news. Blockbuster then dropped its purchase plans, citing anti-trust concerns. Movie Gallery completed its purchase of Hollywood Video on April 27, 2005. [citation needed]
May 10, 2010 · Movie Gallery Inc., the owner of struggling movie rental chain Hollywood Video, is planning to close its remaining stores and liquidate as consumers are increasingly get movies...
Apr 16, 2010 · Yes, even the fixtures were for sale at some of the 760 stores that Hollywood’s parent company, Movie Gallery, began closing just after it announced in February that it was filing for Chapter 11 bankruptcy protection — for the second time in the past three years.
- The Family Business
- #Savethevideostore
- Pre-Streaming Nostalgia
- Next Act Or Final Credits?
Family Video traces its company historyback to 1946, when Clarence Hoogland founded the distribution business Midstates Appliance & Supply Company, according to the company. A little more than three decades later, when Clarence’s son Charlie was running the company, it became a distributor for the first supplier of videocassettes for Hollywood stud...
Before the chain temporarily shuttered in March along with scores of other retailers, Family Video ironically had one of its best weekends in years. “The first week it was like, ‘Well, okay, we’re going to be quarantined, it might be kind of fun. Let’s pick up three or four movies and popcorn,’” Dye said. After the stores closed, many of the chains...
To some extent, Family Video is tapping into nostalgia for the era when video stores were the dominant channel for at-home viewing. That era had a meteoric rise and fall. An industry, sparked by hobbyists and then led by mom and pop stores at first, was built out of pretty much nothing over the course of a few years, as Josh Greenberg chronicled in...
Family Video faces a demographic challenge that could ultimately pose its biggest existential test. Its average customer is well over 40, Dye said. For younger customers, “without like a real ambassador, like their parents or a relative or even a friend that is older, to say, ‘Let’s go to a store’ — it just probably doesn’t cross your mind,” Dye sa...
- Ben Unglesbee
May 10, 2010 · Movie Gallery Inc., the owner of struggling movie rental chain Hollywood Video, is planning to close its remaining stores and liquidate as consumers are increasingly getting movies...
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Bankrupt Movie Gallery, owner of Hollywood Video, will begin shutting down operations in about two weeks, followed by a nationwide liquidation sale, sources familiar with the chain said.
