Press release article from our research archive:

VIDEO UPDATE ANNOUNCES AGREEMENTS TO ACQUIRE FOURTEEN STORES

ST. PAUL, Minn., Sept. 5 /PRNewswire/ -- Video Update, Inc. (Nasdaq: VUPDA, VUPDW, VUPDZ) today announced that it has entered into two letters of intent, one relating to the acquisition of two video superstores in Anchorage, Alaska, and one relating to the acquisition of twelve video superstores in Western Canada. September closings for both transactions are expected. Other terms were not disclosed.

"This acquisition enhances our strategic growth plan and further strengthens our presence in an important geographic region for the company," said Daniel Potter, chairman and CEO of Video Update.

Today's announcement comes on the heels of the ...

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