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."Read more.
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.
Tuesday, January 18, 2005
Blockbuster: still open to Hollywood Entertainment deal
via CBS Marketwatch