Jari Ketola
12 Jun 2000 9:12
As the rumours over the weekend anticipated, Hollywood Entertainment decided to discontinue the e-commerce section of Reel.com. All outstanding orders will most likely be filled through buy.com.
``Closing Reel.com's e-commerce business was a difficult decision. However, with Hollywood's stock dropping 75% during the same period that the operating profits of Hollywood Video stores were up over 40%, we could no longer justify funding the e-commerce business. We want to thank all of our existing Reel.com customers and are confident that buy.com will do an excellent job providing e-commerce services,'' commented Mark Wattles, Chairman and Chief Executive Officer of Hollywood Entertainment.
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Hollywood Video company press release