Movie Gallery Exits Chapter 11
Reuters is reporting that Movie Gallery has survived chapter 11.
Movie Gallery Inc said on Tuesday it had concluded its Chapter 11 restructuring and had successfully emerged from bankruptcy protection.Movie Gallery, the second-largest North American video rental company with about 3,300 stores, also said it closed a $100 million exit financing facility and named a new seven-member board of directors.
Tidbit from the story: "Movie Gallery reached an agreement to sell its VOD service, Moviebeam, to Dar Capital Limited for $2.25 million."



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