HLYW Hollywood Entertainment (MM)

Hollywood Entertainment Makes HSR Filing PORTLAND, Ore., Jan. 13 /PRNewswire-FirstCall/ -- Hollywood Entertainment Corporation (NASDAQ:HLYW), owner and operator of more than 2,000 Hollywood Video superstores and more than 700 Game Crazy video game specialty retail departments, today announced that it filed a notification with the Federal Trade Commission ("FTC") and the United States Department of Justice, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"), in connection with the proposed acquisition of Hollywood by Movie Gallery, Inc. (NASDAQ:MOVI). The HSR Act requires Hollywood and Movie Gallery to provide specified information to the federal antitrust agencies and to observe a waiting period prior to completing the merger. Hollywood will cooperate with any inquiries it may receive from the relevant agencies and intends to seek expeditious clearance of its merger with Movie Gallery. Also today, Hollywood announced that it had received a request for additional information and documentary material, commonly referred to as a "second request," from the FTC in connection with an investigation by the FTC of a potential tender offer by Blockbuster Inc. to acquire the shares of Hollywood. Hollywood intends to respond to the FTC's request for additional information. Forward-Looking Statements This press release contains various "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and assumptions. Actual events may not occur as expressed in the forward-looking statements. Other potential risks and uncertainties are discussed in Hollywood 's reports and other documents filed with the Securities and Exchange Commission from time to time. Hollywood assumes no obligation to update the forward-looking information. Inclusion of such forward-looking statements herein should not be regarded as a representation by Hollywood that the statements will prove to be correct. DATASOURCE: Hollywood Entertainment Corporation CONTACT: Investors/Media Contacts, Daniel Burch, +1-212-929-5748, or Larry Dennedy, +1-212-929-5239, or Bob Marese, +1-212-929-5405, all of MacKenzie Partners, Inc., for Hollywood Entertainment Corporation

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