Movie Gallery Launches Bid to Acquire VHQ

Posted on March 14, 2005

Movie Gallery, Inc. and VHQ Entertainment, Inc. announced that the companies have entered into a definitive agreement under which Movie Gallery's wholly owned subsidiary, Movie Gallery Canada, Inc., will initiate a take-over bid to acquire all outstanding shares of common stock of VHQ. Movie Gallery, Inc. is the third-largest company in the specialty video retail industry based on revenues and the second-largest in the industry based on stores. As of December 31, 2004, Movie Gallery owned and operated 2,482 stores located primarily in the rural and secondary markets throughout North America, including over 200 stores in Canada. The Company operates 61 corporately owned retail stores in secondary and suburban markets in Alberta, Saskatchewan and NWT.

In addition, VHQ Entertainment, Inc. offers a direct to home movie delivery service at VHQonline, a website where customers across Canada can order rental DVDs that are delivered direct to home via Canada Post.



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