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Thu February 3, 2005
Blockbuster, Movie Gallery Vie for Hollywood
By Alabama Public Radio
Dothan, AL – Blockbuster is now competing with Dothan-based Movie Gallery to get control of rival Hollywood Entertainment. The Dallas-based Blockbuster is making a $1.3 billion cash and stock offer for Oregon-based Hollywood. That's about $14.50 a share, compared to Movie Gallery's bid of $13.25 per share. Blockbuster is the nation's largest movie-rental chain. Company officials say they're hoping to stop the number three Movie Gallery from buying number two Hollywood. Hollywood did announce in January that it would be bought by Movie Gallery. All three movie-rental chains have been facing growing competition from online movie-order services like Netflix.