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Movie Gallery To Acquire MovieBeam

Movie Gallery Inc. (Nasdaq: MOVI) has agreed to acquire MovieBeam Inc., a Burbank, Calif.-based provider of on-demand movie services. No financial terms were disclosed. MovieBeam raised $52.5 million in Series A funding in 2005, from firms like Mayfield, Norwest Venture Partners, Intel Capital, Cisco and ABC. www.moviegallery.com www.moviebeam.com