Bankrupt Movie Gallery to Auction Trademarks, Domains

New York – Movie Gallery, the nation’s second-largest video
rental store chain that is in the midst of bankruptcy proceedings, said on
Thursday it plans to conduct an auction sale of its remaining intellectual
property assets.

Up for sale will be the company’s Hollywood Video, Movie
Gallery and Game Crazy trademarks, related domain names and customer bases, and
the Reel.com trademark and domain name.

The bankruptcy court will consider
approval of the auction on Oct. 26, and if approved, Streambank expects to
conduct the auction in the first half of November.

"While the evolving
landscape in the home movie distribution space is creating uncertainty for the
average consumer, a recognized brand will be an essential element in
establishing customer confidence," said Gabe Fried, managing principal of Streambank.

"Customers simply will be more comfortable using new technology or renting
from a kiosk if it is branded with a recognized brand in the movie rental
space."

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