Hearst reaches out to male Web users in Ugo deal

(Reuters) - Ugo's audience comprises more than 11 million monthly visitors in the United States and nearly 28 million worldwide, with a heavy concentration of male viewers aged 18 to 34 who are coveted by advertisers.




"There's a lot of focus on entertainment, whether new movies or DVDs," Hearst Interactive President Kenneth Bronfin told Reuters. "We're appealing to this demographic by what they love to do on the Internet."


Read more at Reuters.com Mergers News

UPDATE 1-Movie Gallery in talks with lenders, fails covenants

(Reuters) - Movie Gallery, which has seen same-store rental revenue
plunge for the past year as online DVD rental erodes its market
share, said it is in talks with its lenders on a possible
waiver, amendment, forbearance or similar agreement.




The company said it will accelerate store closures and
consolidations and may put itself up for sale. It has fully
drawn the remaining availability of its credit revolver and has
about $50 million of cash on hand.


Read more at Reuters.com Bonds News