Blockbuster to make hostile bid for Hollywood Entertainment

AP ^ | 12/28/4

[SmithL]

DALLAS -- Blockbuster Inc. said Tuesday it will launch a hostile bid for Hollywood Entertainment Corp. next month if the rival's directors won't negotiate a deal.

Blockbuster, the nation's largest movie-rental chain, said it would offer stockholders of its top rival $11.50 per share in cash, or about $700 million, plus the assumption of $300 million of Hollywood debt. That's the same offer that Blockbuster made to Hollywood in November.

Blockbuster said it would consider sweetening the offer if Hollywood's board provided requested financial information, which it said Hollywood has refused to provide, and if that information warranted a higher bid. Blockbuster, which first approached Hollywood in November, said it has still not received the requested information.

The cash tender offer is the latest salvo in a competition for Hollywood that pits Blockbuster against Hollywood chairman Mark Wattles and a Los Angeles investment firm, who have offered $10.25 per share.

[SmithL]

SUre, let's have less competition.

[lormand]

Blockbuster, owned by Viacom, run by the Wiensteins, who support, fund, and distribute Michael Moore films and other commie-Rat projects.

[Johnny Gage]

Yep. The local BB store here closed because it couldn't compete with Hollywood. I would drive the extra couple of miles to go to Holloywood rather than walk 5 blocks to BB.

*sigh*

I guess I'll have to use more Pay-per-view.

[N. Theknow]

One word: Netflix

[wardaddy]

actually Viacom spun off Blockbuster in a buyback by Blockbuster execs and lenders last summer.

The Weinsteins (Red Diaper Doper Babies to be sure) run Miramax which is Disney (Eisner...another Red Diaper Baby...and general thief))owned, not by Viacom.

Viacom is owned largely by Sumner Redstone and family....all lefties and anti-culturalists as well though Sumner supported W this year for fiscal reasons.

Viacom is the worst influence in our culture in my view.

Blockbuster has lost it's character from the early days and is now as much a whore as the rest.

During the election this year, they ran anti-Bush vids at about 200-1 over pro-Bush and they now seem enamored with all films that have a homosexual bent and purposely leave off that info on the jacket so one can rent it and take it home and have a surprise vomit.

[RedBloodedAmerican]

Was in BB today and yesterday. In the "New Release" section, there is not a single DVD of Moores movie missing from the shelves. It's not renting at all. Flash in the pan, after people figured out it was full of lies, they stopped renting it. They can't even sell the pre-viewed DVD's of it.

[angkor]

There are rumors about that Blockibuster also has it's aim on Netflix.

That would be horrible indeed.

[t-1000]

I hate BlockBuster and refuse to shop there.
If they aquire Hollywood I will stop shopping there as well.
BlockBuster's employees are lazy, unhelpful, and not friendly.
At one time they were they only rental place in town and they treated everyone like jerks. After Hollywood opened in town BB was empty.

My opinion is that BB is trying to buy Hollywood because if they don't they will go under.
I hope somebody else out bids them. It will be a glorious day to see BlockBuster close shop for good.

[lormand]

Thanks for turning me on to www.altonbrown.com from your content rich profile page :)

His show "Good Eats" is by far, the best show on Food TV.

[writer33]

Why does everything have to always be so hostile? Can't we all just get along? Hmmmmm? :)

[Blessed]

Don't worry yet.Movie Gallery is after it also and they are in a much better position financially.