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Hollywood Entertainment to Merge With Movie Gallery

NEW YORK – Video rental chain Hollywood Entertainment Corp. (HLYW), which may face a hostile takeover bid by industry leader Blockbuster Inc. (BBI), on Monday agreed to be bought by smaller rival Movie Gallery Inc. (MOVI) for $850 million. The merger raises the stakes in the battle for Hollywood Entertainment’s …

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Continental: We Must Cut $500 Million

DALLAS – Continental Airlines Inc. (CAL) said Thursday it must cut $500 million in wages and benefits by Feb. 28 or face a liquidity crisis that could result in layoffs and reductions in its fleet. Like most other U.S. carriers, Continental has been losing money for three years and the …

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Bomb Kills 10, Injures 50 in Iraq

BAGHDAD, Iraq – A truck packed with explosives detonated near an Iraqi National Guards barracks Tuesday in western Baghdad (search), killing ten people and wounding 50, police said. A homicide bomber (search) rammed the truck at an Iraqi police checkpoint which was also near an entrance of the Green Zone, …

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