Red Envelope Madness!

Tuesday, January 18, 2005

Blockbuster: still open to Hollywood Entertainment deal

via CBS Marketwatch
John Antioco, Blockbuster's chief executive, said in a statement his company is "disappointed" that Hollywood entered into a deal with Movie Gallery "without giving Blockbuster a fair opportunity to participate in the auction process."

Nonetheless, Blockbuster is evaluating what price it might be willing to pay to top Movie Gallery, including the termination fee -- as much as $27 million -- it would have to hand over if it breaks up a Movie Gallery-Hollywood transaction.
Read more.

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