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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.
Apr 16, 2010 · The service failed to take off, and Movie Gallery sold it for $2 million a year later. Market conditions continued to worsen even after Movie Gallery emerged from bankruptcy and moved its headquarters to Wilsonville in 2009.
In order to create a stronger position against the hostile takeover, Hollywood Video agreed to a buyout on Monday, January 10, 2005, by its smaller competitor Movie Gallery. Movie Gallery paid $860 million, $13.25 per share, and the assumption of $380 million in debt.
- 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...
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.
