Reglikedomain industry desk

Auction Plan Submitted to Court — Reel.com Bankruptcy

Auction Plan Submitted to Court — Reel.com Bankruptcy

Domain name headed to auction block soon.

Reel.comBankrupt entertainment firm Movie Gallery has submitted its plan to the court to auction off intellectual property assets counting 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. As stated by 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 buyout (probably overpriced) and then $100 million in marketing for the site. Reel.com still gets over 10,000 unique visitors each month as stated by Compete.com.

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

Also on the wire

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