Blockbuster Extends Tender Offers for Shares and Notes of Hollywood Entertainment Through March 24, 2005
09 Marzo 2005 - 1:05PM
PR Newswire (US)
Blockbuster Extends Tender Offers for Shares and Notes of Hollywood
Entertainment Through March 24, 2005 DALLAS, March 9
/PRNewswire-FirstCall/ -- Blockbuster Inc. (NYSE:BBINYSE: BBI.B)
today announced that it has extended its exchange offer for all
outstanding shares of Hollywood Entertainment Corporation
(NASDAQ:HLYW) for $14.50 in value, comprised of $11.50 in cash and
$3.00 in Blockbuster class A common stock, and its offer to
purchase for cash any and all of the outstanding 9.625% Senior
Subordinated Notes due 2011 issued by Hollywood. The offers, which
were previously scheduled to expire at midnight, New York City
time, on March 11, 2005 have been extended until midnight, New York
City time, on March 24, 2005, unless further extended. As of the
close of business on March 8, 2005, a total of 292,049 shares of
Hollywood common stock had been tendered pursuant to the exchange
offer and approximately $69,892,000 in principal amount of
Hollywood notes had been tendered pursuant to the notes tender
offer. Citigroup Global Markets Inc. (877-531-8365), Credit Suisse
First Boston (800-881-8320) and J.P. Morgan Securities Inc.
(866-262-0777) have been appointed dealer managers for the exchange
offer for Hollywood shares. Credit Suisse First Boston LLC
(800-820-1653), Citigroup Global Markets Inc. (800-558-3745) and
J.P. Morgan Securities Inc. (866-834-4666) have been appointed as
dealer managers and solicitation agents for the notes tender offer
and consent solicitation. Morrow & Co., Inc. has been appointed
the information agent for the exchange offer and the notes tender
offer and consent solicitation, The Bank of New York has been
appointed as the exchange agent for the exchange offer and Mellon
Investor Services LLC has been appointed as the depositary for the
notes tender offer and consent solicitation. The prospectus
relating to the exchange offer and the Offer to Purchase and
Consent Solicitation Statement relating to the notes tender offer,
as well as any additional information concerning the terms and
conditions of the exchange offer and the notes tender offer, may be
obtained by contacting Morrow & Co., Inc., 445 Park Avenue, 5th
Floor, New York, NY 10022, E-mail: . Shareholders please call:
(800) 607-0088. Noteholders please call: (800) 654-2468. This press
release is neither an offer to purchase nor a solicitation of an
offer to sell any securities, including Hollywood common stock and
Hollywood's 9.625% Senior Subordinated Notes, nor is it a
solicitation of consents with respect to Hollywood's 9.625% Senior
Subordinated Notes. The notes tender offer and consent solicitation
is being made solely by the Offer to Purchase and Consent
Solicitation Statement dated February 11, 2005. The exchange offer
for Hollywood common stock is being made only through a
registration statement and related materials. In connection with
the exchange offer for Hollywood common stock, Blockbuster filed a
registration statement on Form S-4 (containing a prospectus) with
the Securities and Exchange Commission on February 2, 2005.
Investors and security holders of Hollywood are advised to read
these disclosure materials (including any amendments and other
disclosure materials when they become available), because these
materials contain important information. Investors and security
holders may obtain a free copy of the disclosure materials and
other documents related to the exchange offer filed by Blockbuster
with the Securities and Exchange Commission at the SEC's website at
http://www.sec.gov/. The disclosure materials and other documents
related to the exchange offer and the notes tender offer may also
be obtained from Blockbuster upon request by directing such request
to Morrow & Co., Inc. in the manner described above. This press
release contains forward-looking statements relating to
Blockbuster's exchange offer (the "Exchange Offer") for all
outstanding shares of Hollywood common stock and its tender offer
(the "Tender Offer") for all of Hollywood's 9.625% Senior
Subordinated Notes. Specific forward-looking statements relate to
the terms and conditions of the Exchange Offer and the Tender
Offer, including the timeframe for the offers and the consideration
to be paid. These forward-looking statements are based on
Blockbuster's current intent, expectations, estimates and
projections and are not guarantees of future performance. These
statements involve risks, uncertainties, assumptions and other
factors that are difficult to predict and that could cause actual
results to vary materially from those expressed in or indicated by
them. In addition, some factors are beyond Blockbuster's control,
including the possible consummation of the announced merger between
Hollywood and Movie Gallery, Inc. Therefore, Blockbuster can give
no assurance that the Exchange Offer and the Tender Offer will be
completed. Other factors that could cause actual results to differ
materially from the statements made in this release include, among
others: (i) Blockbuster's ability to satisfy, or its waiver of, any
or all of the conditions to the Exchange Offer and/or the Tender
Offer; (ii) Blockbuster's ability to provide the necessary
information and to take such actions as are necessary to comply
with the Federal Trade Commission's requests of it and to clear the
Hart-Scott-Rodino process with respect to the Exchange Offer; (iii)
Blockbuster's and Hollywood's ability to receive any and all other
necessary approvals, including any other necessary governmental or
regulatory approvals and the approval of the respective Boards of
Directors and stockholders, if applicable; (iv) Blockbuster's
ability to close the financings necessary for the proposed Exchange
Offer and Tender Offer and consent solicitation; and (v) other
factors as described in filings with the Securities and Exchange
Commission, including the detailed factors discussed under the
headings "Risk Factors" in Blockbuster's prospectus included in its
registration statement on Form S-4 filed with the Securities and
Exchange Commission on February 2, 2005, "Cautionary Statements" in
Blockbuster's annual report on Form 10-K for the fiscal year ended
December 31, 2003 and "Disclosure Regarding Forward-Looking
Information" in Blockbuster's quarterly report on Form 10-Q for the
fiscal quarter ended September 30, 2004. DATASOURCE: Blockbuster
Inc. CONTACT: Press, Randy Hargrove, Director, Corporate
Communications, +1-214-854-3190, or Analysts and Investors, Mary
Bell, Senior Vice President, Investor Relations, +1-214-854-3863,
or Angelika Torres, Director, Investor Relations, +1-214-854-4279,
both of Blockbuster Inc. Web site: http://www.blockbuster.com/
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