Company Acquires MOVIE GALLERY Assets
Expands from merchandising to content development and distribution.
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The news wire is reporting that National Entertainment Collectibles Inc. (NECA), a leading manufacturer and distributor of entertainment-related products, has acquired the vast majority of the assets for Movie Gallery Inc., which includes Hollywood Video, Movie Gallery and Game Crazy brands. This acquisition represents an important expansion for the company from merchandising to content development and distribution.
Since 1988 when the first Hollywood Video store opened, Movie Gallery Inc. has forged a relationship with over 50 million customers in the US and Canada as the second largest video chain in the country. NECA will be continuing that relationship, presenting customers with exclusive content and merchandise as well as in-home and theatrical access to Hollywood premieres.
"Our company is about giving unique entertainment offerings at a fair price to fans of movies, games and pop culture," said Joel Weinshanker, President and COO of NECA. "When the opportunity arose to be able to bring this philosophy to such a substantial and loyal base, our choice was very clear."
In the coming weeks, NECA will have partnership announcements for genre-specific kiosk launches (in the spirit of Redbox and Blockbuster) and streaming content (in the spirit of Netflix). In addition to the Hollywood Video, Movie Gallery and Game Crazy brands, NECA also recently purchased Reel.com, which was originally purchased by Hollywood Video for $100 million dollars.
Source: PR News Wire