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Non-Tech : BLOCKBUSTER (BBI) - GIANT video specialty chain

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To: Walter Morton who wrote ()	7/19/1999 11:46:00 PM
From: Walter Morton	of 67

You know that Viacom owns Blockbuster and Paramount? But did you know that Hollywood Entertainment Signs Revenue-Sharing Agreement With Paramount Home Video? Hollywood's Studio Agreements Now Cover Over 90% Of New Release Rental Titles PORTLAND, Oregon, April 29 /PRNewswire/ -- Hollywood Entertainment Corporation (Nasdaq: HLYW - news) today announced that it has signed a revenue-sharing agreement with Paramount Home Video, a unit of Viacom, Inc. (NYSE: VIA; VIA.B). The agreement is a deal under which Paramount will provide Hollywood with Paramount titles on a revenue-sharing basis for distribution through Hollywood Video stores nationwide. The agreement allows Hollywood to increase the depth of copy on Paramount Home Video titles and is intended to maximize revenue for both parties by increasing customer traffic in video stores. Jeffrey Yapp, President of Hollywood Entertainment Corporation, said: ''Hollywood Entertainment is extremely pleased with this new arrangement because of Paramount's continuing success producing outstanding movies. With this deal, Hollywood now has revenue-sharing agreements covering more than 90% of the revenues generated by new release rentals in our stores. This newest arrangement will enable us to provide our customers with even greater availability of Paramount's new releases.'' Hollywood Entertainment Corporation owns and operates Hollywood Video retail stores, the second largest video store chain in the United States, and Reel.com, the leading web-based movie store. Hollywood Video superstores average approximately 7,200 square feet and typically carry over 12,000 videocassettes. Hollywood Video and Hollywood Entertainment are registered trademarks of Hollywood Entertainment Corporation. Paramount Home Video is part of the operations of Paramount Pictures, a unit of Viacom, Inc. SOURCE: Hollywood Entertainment Corporation biz.yahoo.com

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