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The product is focused on the 48 million Americans who can't open a bank account because they either don't have the cash or have a bad credit history After that, Simmons says he hopes to market the card by word of mouth Simmons Branches Into Banking Industry Apr 1, 8:41 AM EST Russell Simmons is branching into the financial services industry The card will be released through UniRush Financial Services â€â€? a joint venture between Simmons' Rush Communications and the Unifund Corporation, a company that buys unpaid consumer debts The card will be offered to four million Unifund customers The hip-hop entrepreneur is planning to release a Visa debit card Its holdings include stakes in PetCo, Rand McNally, The Sports Authority and Rite Aid said Monday it has agreed to a buyout offer of about $840 million from a group led by a Los Angeles-based investment firm The buyout comes as video retailers like Hollywood Entertainment and its bigger rival Blockbuster Inc The announcement said he gets 50 percent of the stock in the surviving company 2 video rental chain in the nation would also include the assumption of about $300 million in debt , owns and operates more than 1,920 Hollywood Video superstores and 600 Game Crazy specialty stores The deal is subject to shareholder approval, antitrust clearance and the completion of financing 70 on Friday New technology is also making movies instantly available over the Internet or through cable TV services 66 on the Nasdaq Stock Market The deal for the No Hollywood Entertainment shares soared more than 27 percent, or $2 have come under pressure from video sales by discounters such as Wal-Mart Stores Inc Mark Wattles, Hollywood's founder, chairman and chief executive, will continue in his current capacities following the merger Under terms of the deal, Hollywood's shareholders would receive $14 per share in cash â€â€? representing a 31 percent premium over the company's closing price of $10 The shift from videotape to DVD technology has also changed the industry, boosting sales over rentals, analysts said Hollywood Entertainment Agrees to Buyout Mar 29, 4:33 PM EST Video retailer Hollywood Entertainment Corp 96, on Monday to close at $13 Hollywood Entertainment, based in suburban Wilsonville, Ore "In the past (people would only buy) movies that did more than $100 million at the box office, and now it's down to movies that did only $50 million, and that has cut into the rental market," said Jennifer Jordan of Wells Fargo Securities in Portland The proposed buyer is a group led by Leonard Green & Partners, a private investment firm specializing in buyouts and Target Corp |
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