Video rental firm Hollywood Entertainment expects to close a proposed takeover by Movie Gallery during the second quarter, the company said in a proxy statement filed Feb. 22 with the Securities and E

NEW YORK (The Hollywood Reporter) -- Video rental firm Hollywood Entertainment expects to close a proposed takeover by Movie Gallery during the second quarter, the company said in a proxy statement filed Feb. 22 with the Securities and Exchange Commission.

The regulatory filing provided investors with more details of the planned transaction, but stopped short of setting a date for a necessary special shareholder meeting that must approve the deal. Movie Gallery had previously said it hopes to close the transaction before or during the second quarter.

In a separate SEC filing Feb. 22, the company said Nasdaq has ruled that the firm must hold a regular annual shareholder meeting by March 30 to avoid having its shares delisted. Company stock closed basically flat that day at $13.86.