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Video chain buys Reel.com in $100 mil deal

Published on .

Video rental giant Hollywood Entertainment Corp. has agreed to buy online video store Reel.com in a deal valued at $100 million, the companies said in a statement. Hollywood Entertainment will issue 5 million shares of Hollywood Entertainment stock and $30 million in cash to stockholders of Reel.com. The deal is expected to close within 30 days. Reel.com offers access to more than 85,000 movie titles, movie information and recommendations.

Copyright July 1998, Crain Communications Inc.

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