You will be redirected back to your article in seconds

H’w’d Ent. sets stock offering

Hollywood Entertainment Corp. plans to raise $ 20 million to $ 25 million in a public offering of its common stock to largely finance its acquisition of the Video Central superstore chain.

Hollywood, a Portland, Ore., video rental company, said in September that it would buy the 33-store Video Central for $ 30.5 million from the H.E. Butt Grocery Co. in Texas.

The deal calls for full payment by March 25.

Hollywood said it would use existing cash to cover the difference between the offering’s proceeds and the purchase price. The company said tapping the stock market will allow it to go ahead with the acquisition without worries about building up its debt load.

“We prefer to finance the Video Central acquisition with equity instead of debt,” Hollywood chairman Mark J. Wattles said in a statement.

More Biz

  • Kevin Hart Massive

    Kevin Hart to Keynote at Variety's Massive: The Entertainment Marketing Summit

    Hollywood Entertainment Corp. plans to raise $ 20 million to $ 25 million in a public offering of its common stock to largely finance its acquisition of the Video Central superstore chain. Hollywood, a Portland, Ore., video rental company, said in September that it would buy the 33-store Video Central for $ 30.5 million from […]

  • Dua Lipa Dan McCarroll

    Dan McCarroll, Former President of Warner Bros. Records, Joins Amazon

    Hollywood Entertainment Corp. plans to raise $ 20 million to $ 25 million in a public offering of its common stock to largely finance its acquisition of the Video Central superstore chain. Hollywood, a Portland, Ore., video rental company, said in September that it would buy the 33-store Video Central for $ 30.5 million from […]

  • Reliance Industries chairman Mukesh Ambani

    Mukesh Ambani's Reliance Industries Takes Stake in Eros International

    Hollywood Entertainment Corp. plans to raise $ 20 million to $ 25 million in a public offering of its common stock to largely finance its acquisition of the Video Central superstore chain. Hollywood, a Portland, Ore., video rental company, said in September that it would buy the 33-store Video Central for $ 30.5 million from […]

  • Hong Kong Disneyland Proclaims Recovery, as

    Hong Kong Disneyland Proclaims Recovery as Losses Deepen

    Hollywood Entertainment Corp. plans to raise $ 20 million to $ 25 million in a public offering of its common stock to largely finance its acquisition of the Video Central superstore chain. Hollywood, a Portland, Ore., video rental company, said in September that it would buy the 33-store Video Central for $ 30.5 million from […]

  • Gibson, Iconic Guitar Company, Said to

    Gibson, Iconic Guitar Company, Said to Be Nearing Bankruptcy

    Hollywood Entertainment Corp. plans to raise $ 20 million to $ 25 million in a public offering of its common stock to largely finance its acquisition of the Video Central superstore chain. Hollywood, a Portland, Ore., video rental company, said in September that it would buy the 33-store Video Central for $ 30.5 million from […]

More From Our Brands

Access exclusive content