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Movie Gallery was formed in 1985 by Joe Malugen and Harrison Parrish in Dothan, Alabama. Through its wholly-owned subsidiary, M.G.A., the company's fo.. read moreunders began operating video specialty stores in southern Alabama and the Florida panhandle, and franchising the Movie Gallery store concept. By June 1987 the company owned five stores and had a franchise operation of 45 stores. In 1988, the company began to consolidate the franchisees into company owned stores. By 1992, The company had a total of 37 stores and annual revenues of $6 million. In August 1994, the company completed an initial public offering of its stock. With the proceeds from this offering, the company began to quickly complete acquisitions of various video chains, primarily in the southeast. In early 1995, the company raised additional public funds and continued the acquisition and development of stores. By the middle of 1996, only 22 months after beginning its aggressive expansion strategy, Movie Gallery had grown to over 850 stores through over 100 separate acquisitions. In 1999, Movie Gallery announced plans to build 100 new stores. The company completed an 88-store acquisition of Blowout Entertainment in May, and ended the year with more than 950 locations in 31 states. In 2000, Movie Gallery again set its goal at opening 100 new stores and relocating 25. This goal was surpassed. The company moved forward with its largest single-chain acquisition to date, expanding its base of stores by 30%, in late December 2001. This addition of Video Update stores to the Movie Gallery family launched the company's international presence with 100 retail locations in Canada. Following the completion of the Video Update acquisition, Movie Gallery achieved the 2,000 store mark in 2003. In 2005, the company completed the largest acquisition to date with the Hollywood Entertainment merger. This combination of companies increased the store total to 4,700 with revenues in excess of $2.5 billion. In addition, Movie Gallery opened 61 new stores in Western Canada with the acquisition of VHQ Entertainment. In 2007 the company filed for Chapter 11 bankruptcy protection under the U.S. Bankruptcy Code. The company emerged from Chapter 11 in 2008 and appointed a new chief executive officer – C.J. Gabriel, Jr. Joe Malugen continued to serve on the Movie Gallery Board of Directors.[1] Until August 4th, 2008 when Malugen resigned