Hollywood Entertainment Makes HSR Filing
14 January 2005 - 8:57AM
PR Newswire (US)
Hollywood Entertainment Makes HSR Filing PORTLAND, Ore., Jan. 13
/PRNewswire-FirstCall/ -- Hollywood Entertainment Corporation
(NASDAQ:HLYW), owner and operator of more than 2,000 Hollywood
Video superstores and more than 700 Game Crazy video game specialty
retail departments, today announced that it filed a notification
with the Federal Trade Commission ("FTC") and the United States
Department of Justice, pursuant to the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 (the "HSR Act"), in connection with the
proposed acquisition of Hollywood by Movie Gallery, Inc.
(NASDAQ:MOVI). The HSR Act requires Hollywood and Movie Gallery to
provide specified information to the federal antitrust agencies and
to observe a waiting period prior to completing the merger.
Hollywood will cooperate with any inquiries it may receive from the
relevant agencies and intends to seek expeditious clearance of its
merger with Movie Gallery. Also today, Hollywood announced that it
had received a request for additional information and documentary
material, commonly referred to as a "second request," from the FTC
in connection with an investigation by the FTC of a potential
tender offer by Blockbuster Inc. to acquire the shares of
Hollywood. Hollywood intends to respond to the FTC's request for
additional information. Forward-Looking Statements This press
release contains various "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management's current
expectations and assumptions. Actual events may not occur as
expressed in the forward-looking statements. Other potential risks
and uncertainties are discussed in Hollywood 's reports and other
documents filed with the Securities and Exchange Commission from
time to time. Hollywood assumes no obligation to update the
forward-looking information. Inclusion of such forward-looking
statements herein should not be regarded as a representation by
Hollywood that the statements will prove to be correct. DATASOURCE:
Hollywood Entertainment Corporation CONTACT: Investors/Media
Contacts, Daniel Burch, +1-212-929-5748, or Larry Dennedy,
+1-212-929-5239, or Bob Marese, +1-212-929-5405, all of MacKenzie
Partners, Inc., for Hollywood Entertainment Corporation
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