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Non-Tulsa Discussions => Entertainment => Topic started by: Townsend on May 10, 2010, 02:08:45 pm



Title: Hollywood Video Closes
Post by: Townsend on May 10, 2010, 02:08:45 pm
And boom goes the dynamite...

http://www.msnbc.msn.com/id/37068852/ns/business-media_biz (http://www.msnbc.msn.com/id/37068852/ns/business-media_biz)


Quote

  MSNBC.com


Hollywood Video stores to close
Parent Movie Gallery Inc. filed for bankruptcy in February
By Michael Felberbaum
The Associated Press
updated 3:07 p.m. CT, Mon., May 10, 2010
RICHMOND, Va. - Movie Gallery Inc., the owner of struggling movie rental chain Hollywood Video, is planning to close its remaining stores and liquidate as consumers are increasingly get movies through the mail, vending machines and high-speed Internet connections.

The No. 2 rental chain behind Blockbuster Inc. filed a notice with the U.S. Bankruptcy Court for the Eastern District of Virginia in Richmond late last week that it will terminate its business operations after defaulting on a loan from one of its creditors.

An agreement filed with the court sais the move to close more than 1,900 remaining stores is in the "best interests" of the company and its creditors. The agreement does not specify a time line. It must be approved by a bankruptcy judge.

Phone calls to Movie Gallery and an attorney representing the company were not immediately returned.

The company, based in Wilsonville, Ore., filed for Chapter 11 bankruptcy in February, buckling under the competitive pressure from movies-by-mail service Netflix Inc., DVD kiosk company Redbox and delivery of movies and TV shows over the Internet.

The bankruptcy filing does not include Movie Gallery's Canadian operations.

It was the second trip through bankruptcy court in just three years for Movie Gallery.

The company first landed in bankruptcy court in October 2007, unable to sustain the debt it took on in its $850 million acquisition of rival Hollywood Entertainment Corp. in 2005. Movie Gallery agreed to assume about $350 million of Hollywood Entertainment's debt as a part of the deal.

The acquisition made Movie Gallery the No. 2 rental chain in the country behind Blockbuster Inc. but it has been forced to close more than 2,400 of its stores in the past three years, according to court filings. It had since announced plans to close more stores as part of its restructuring.

Despite moving to shut down unprofitable locations, the company said it continued to see "significant" losses in 2009. Annual revenue fell $546.3 million, or 28 percent, to $1.4 billion.

In a court filing, Movie Gallery Chief Restructuring Officer Steve Moore said the company was facing "looming defaults" on its loan agreements. The company listed debts of between $500 million and $1 billion, compared with assets of between $10 million and $50 million.


Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
URL: http://www.msnbc.msn.com/id/37068852/ns/business-media_biz/



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Title: Re: Hollywood Video Closes
Post by: dbacks fan on May 10, 2010, 09:19:53 pm
Hollywood Video started closing stores here before the Febuary announcement. I was watching a story on the news this evening about it, and they were talkin about the fact that with Netflix on demand if you have an Xbox or a PS3(Ithink on the PS3), cable on demand, Red Box (owned by Wal-Mart), Hulu, and Amazon works with Tivo, they can't compete. My former brother-in-law in Vegas uses Amazon, downloads to one of his Tivo's and has I think 24 hours on it for I want to say a price comparable to Red Box. The only disadvantage I see to Red Box is finding older movies. It's simple, a buck plus tax at Red Box or $3.99 at a store, and Netflix offering $9.99 a month unlimited, the stores can't compete. Even Blockbuster is going to kiosk machines.


Title: Re: Hollywood Video Closes
Post by: Cats Cats Cats on May 11, 2010, 06:52:42 am
I worked a summer at the one in south Tulsa.  It was kind of fun... Except the manager would borrow money from the safe (so the rumor was) and he would go in and add 15 minute breaks as required by law after they wouldn't give them to us. Ahhh... Fun times.


Title: Re: Hollywood Video Closes
Post by: sgrizzle on May 11, 2010, 07:13:08 am
Hollywood Video started closing stores here before the Febuary announcement. I was watching a story on the news this evening about it, and they were talkin about the fact that with Netflix on demand if you have an Xbox or a PS3(Ithink on the PS3), cable on demand, Red Box (owned by Wal-Mart), Hulu, and Amazon works with Tivo, they can't compete. My former brother-in-law in Vegas uses Amazon, downloads to one of his Tivo's and has I think 24 hours on it for I want to say a price comparable to Red Box. The only disadvantage I see to Red Box is finding older movies. It's simple, a buck plus tax at Red Box or $3.99 at a store, and Netflix offering $9.99 a month unlimited, the stores can't compete. Even Blockbuster is going to kiosk machines.

Redbox is not owned by walmart, they are owned by coinstar which is an independent company.

I rented a movie at blockbuster the over day. It's $5 now and they don't even bother alphabetizing movies anymore. They are just kinda grouped by letter.


Title: Re: Hollywood Video Closes
Post by: dbacks fan on May 11, 2010, 07:58:11 am
Redbox is not owned by walmart, they are owned by coinstar which is an independent company.

I rented a movie at blockbuster the over day. It's $5 now and they don't even bother alphabetizing movies anymore. They are just kinda grouped by letter.


Thanks, I had been told it was Wally World that owned Redbox, my bad. But yeah, $5 at BB, no thanks.


Title: Re: Hollywood Video Closes
Post by: sgrizzle on May 11, 2010, 08:22:31 am


Thanks, I had been told it was Wally World that owned Redbox, my bad. But yeah, $5 at BB, no thanks.

I've heard mcdonalds too. I think it has to do with where they are located.

The stores that have these locations don't understand the point. 41st & Peoria Kum-n-Go has one next to their door... so people will rent or return a movie and also stop to buy something... well, they put it next to a door that is locked. You have to walk to the other side of the building to impulse buy something.


Title: Re: Hollywood Video Closes
Post by: dbacks fan on May 11, 2010, 12:02:55 pm
I've heard mcdonalds too. I think it has to do with where they are located.

The stores that have these locations don't understand the point. 41st & Peoria Kum-n-Go has one next to their door... so people will rent or return a movie and also stop to buy something... well, they put it next to a door that is locked. You have to walk to the other side of the building to impulse buy something.

There are some locations here especially it seems at Walgreens that they have had to put two Redbox's to keep up with the demand. One I used to go to both machines would have a line six poeple deep waiting to use it on the week ends, and 150' away was a Hollywood Video that had more employees in the store than customers.


Title: Re: Hollywood Video Closes
Post by: Cats Cats Cats on May 11, 2010, 12:09:28 pm
Sgrizzle had a time when he had to return 2 movies.  He put one in and then it was full for the 2nd.  So he had to go find a new redbox.


Title: Re: Hollywood Video Closes
Post by: Conan71 on May 11, 2010, 12:11:31 pm
I used to rent DVD's a lot more often. I think I've rented three or four since the holidays and all those were one of our snow weekends.  Maybe I'm wasting too much time on healthier pursuits these days  ;)


Title: Re: Hollywood Video Closes
Post by: sgrizzle on May 11, 2010, 12:14:14 pm
There are some locations here especially it seems at Walgreens that they have had to put two Redbox's to keep up with the demand. One I used to go to both machines would have a line six poeple deep waiting to use it on the week ends, and 150' away was a Hollywood Video that had more employees in the store than customers.

Can't beat $1, especially for those people who "make backups" of rented movies.


Title: Re: Hollywood Video Closes
Post by: Hoss on May 11, 2010, 02:17:17 pm
Can't beat $1, especially for those people who "make backups" of rented movies.

That's kinda pointless now, though, what with a gajillion inch HD TVs and sub-250 dollar PS3s and Blu-Ray.


Title: Re: Hollywood Video Closes
Post by: nathanm on May 11, 2010, 02:19:38 pm
Thanks, I had been told it was Wally World that owned Redbox, my bad. But yeah, $5 at BB, no thanks.
It's not so terrible for Blu-Rays, given that you get it for a week, but for your usual DVDs, yeah, BB is incredibly overpriced. (On Blu-Ray, they're merely overpriced)


Title: Re: Hollywood Video Closes
Post by: godboko71 on May 11, 2010, 02:35:58 pm
I used to have the blockbuster online service before we cut back. I liked the fact I could get 1-3 movies at any time and return them at the store and get free rentals. Now between streaming, on-demand I don't have as much need. Though I would start the service back up if I ever start spending more on services like it and Netflix.


Title: Re: Hollywood Video Closes
Post by: nathanm on May 11, 2010, 02:41:31 pm
Now between streaming
If only Netflix's streaming wasn't significantly worse than DVD quality. (I've used it with a bunch of different devices, including Windows 7 Media Center; it never looks very good)

I'd love to be able to can Cox. My monthly bill is outrageous (although 35% or so of it is my Internet service).


Title: Re: Hollywood Video Closes
Post by: sgrizzle on May 11, 2010, 06:21:28 pm
That's kinda pointless now, though, what with a gajillion inch HD TVs and sub-250 dollar PS3s and Blu-Ray.

You can rent blu-rays on monday at Reasors for like $2 and "back them up"

Backup != Lower Quality


Title: Re: Hollywood Video Closes
Post by: custosnox on May 11, 2010, 06:57:26 pm
You can rent blu-rays on monday at Reasors for like $2 and "back them up"

Backup != Lower Quality

You do have to have a blu-ray burner though to get a true "back up". 


Title: Re: Hollywood Video Closes
Post by: sgrizzle on May 11, 2010, 07:26:30 pm
You do have to have a blu-ray burner though to get a true "back up".  

No, just a bluray reader. With 1TB hard drives at $100 or less, little reason to put it BACK onto optical media.


Title: Re: Hollywood Video Closes
Post by: custosnox on May 11, 2010, 07:35:26 pm
No, just a bluray reader. With 1TB hard drives at $100 or less, little reason to put it BACK onto optical media.

That is true as well, unless you only have one computer, and don't feel like lugging it around to every room when you want to watch a show there.  Granted I don't have that problem, but I'm sure someone out there is computer poor.


Title: Re: Hollywood Video Closes
Post by: nathanm on May 11, 2010, 09:48:21 pm
No, just a bluray reader. With 1TB hard drives at $100 or less, little reason to put it BACK onto optical media.
A person can only fit so many hard drives in one computer!

Besides, backups will continue to be subpar until I either get 96KHz multichannel PCM or bitstreaming of lossless codecs out of my HTPC, which I fear will require a new video card. :(

One of these days I'm going to have to rewire the house and set up an openfiler box. Surely 16TB would be enough. It would only cost $1500 or so. Maybe a little more since I'd have to buy two 10GigE cards. (8 drives should do an aggregate total of around 640MBytes/sec on sequential reads. That's a little over 5Gbit/sec)

I was just pricing out something similar, although smaller in raw size, for a client earlier today.


Title: Re: Hollywood Video Closes
Post by: Hoss on May 11, 2010, 10:02:05 pm
That is true as well, unless you only have one computer, and don't feel like lugging it around to every room when you want to watch a show there.  Granted I don't have that problem, but I'm sure someone out there is computer poor.

Get one of these:

http://www.wdc.com/en/products/products.asp?driveid=735

Then one of these:

http://www.newegg.com/Product/Product.aspx?Item=N82E16817153066

Problem solved.


Title: Re: Hollywood Video Closes
Post by: sgrizzle on May 12, 2010, 05:54:17 am
A person can only fit so many hard drives in one computer!

Besides, backups will continue to be subpar until I either get 96KHz multichannel PCM or bitstreaming of lossless codecs out of my HTPC, which I fear will require a new video card. :(

One of these days I'm going to have to rewire the house and set up an openfiler box. Surely 16TB would be enough. It would only cost $1500 or so. Maybe a little more since I'd have to buy two 10GigE cards. (8 drives should do an aggregate total of around 640MBytes/sec on sequential reads. That's a little over 5Gbit/sec)

I was just pricing out something similar, although smaller in raw size, for a client earlier today.

16 should be enough for a home user. I'm all for bigger pipes but I think going 10GigE is a bit overkill. I think the 180TB system we got in a few weeks ago allows us to use 15x 1Gb copper connections or 2Gb fiber.


Title: Re: Hollywood Video Closes
Post by: nathanm on May 12, 2010, 07:15:30 am
I think the 180TB system we got in a few weeks ago allows us to use 15x 1Gb copper connections or 2Gb fiber.
Now that is a fair amount of storage.


Title: Re: Hollywood Video Closes
Post by: sgrizzle on May 12, 2010, 07:35:31 am
Now that is a fair amount of storage.

It's a fair amount of "holy crap, that's heavy" too.


Title: Re: Hollywood Video Closes
Post by: Breadburner on May 12, 2010, 08:14:18 am
Head Busters will be next....


Title: Re: Hollywood Video Closes
Post by: Cats Cats Cats on May 12, 2010, 08:18:11 am
Head Busters will be next....

They killed their business when they did the blockbuster online, return your movie and rent a new one in store.  They let all the freebies from online take all of their new releases.  It was pretty stupid.


Title: Re: Hollywood Video Closes
Post by: YoungTulsan on May 12, 2010, 09:10:27 am
[youtube]3TrPwOrf4sM[/youtube]


Title: Re: Hollywood Video Closes
Post by: nathanm on May 12, 2010, 11:56:18 am
It's a fair amount of "holy crap, that's heavy" too.
Yeah, I was lifting a server blessed only with 8 drives the other day and I thought it was kinda heavy. I'm used to carrying around my laptop, or at worst some $400 econobox computer that weighs nothing. It's easy to forget that hard disks are very dense.


Title: Re: Hollywood Video Closes
Post by: Townsend on November 06, 2013, 02:42:10 pm
Blockbuster Officially Killing Off Remaining Stores And DVDs By Mail

http://consumerist.com/2013/11/06/blockbuster-officially-killing-off-remaining-stores-and-dvds-by-mail/ (http://consumerist.com/2013/11/06/blockbuster-officially-killing-off-remaining-stores-and-dvds-by-mail/)


Title: Re: Hollywood Video Closes
Post by: sgrizzle on November 06, 2013, 02:44:02 pm
Awww...


Title: Re: Hollywood Video Closes
Post by: Townsend on November 06, 2013, 02:50:07 pm
(https://scontent-b-dfw.xx.fbcdn.net/hphotos-frc3/1466269_10151966967868680_1540993337_n.jpg)


Title: Re: Hollywood Video Closes
Post by: Conan71 on November 06, 2013, 03:07:09 pm
Hahaha! I’m a 35%er.


Title: Re: Hollywood Video Closes
Post by: Breadburner on November 06, 2013, 05:46:05 pm
Just call me Nostradumbass....!!!!