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Reel.com Bankruptcy Auction Plan Submitted to Court

October 14, 2010Domain Sales, Domaining, Domainnamewire, reel.comComments Off on Reel.com Bankruptcy Auction Plan Submitted to Court

Domain name headed to auction block soon.

Reel.comBankrupt entertainment company Movie Gallery has submitted its plan to the court to auction off intellectual property assets including Reel.com. Movie Gallery operated the Hollywood Video rental chain as well as Game Crazy.

The intellectual property sale will be handled by StreamBank, LLC. According to StreamBank, LLC, the reel.com domain name:

This domain and trademark originally served as a movie review site, online store, and is the name under which Movie Gallery operated a successful store in Berkeley, CA. Reel.com was purchase by Hollywood Video for approximately $100 million and an equivalent amount was then invested in marketing the site. Would make a great competitor to Rotten Tomatoes, Flixter, or a file sharing site.

So a $100 million acquisition (probably overpriced) and then $100 million in marketing for the site. Reel.com still gets over 10,000 unique visitors each month according to Compete.com.

I’ll update you when the court approves the sale procedures.


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