Movie Gallery Clears Regulatory Obstacle
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From Associated Press
Movie rental chain Movie Gallery Inc. said it had passed a regulatory review of possible antitrust issues in its bid to acquire larger rival Hollywood Entertainment Corp.
Hollywood also is the target of a takeover bid from industry leader Blockbuster Inc.
Shares of Dothan, Ala.-based Movie Gallery’s shares were unchanged at $21.42 and Dallas-based Blockbuster declined a dime to $9.30, both on the New York Stock Exchange. Wilsonville, Ore.-based Hollywood Entertainment fell 21 cents to $14.06 on Nasdaq.
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