Movie Gallery Bids for Hollywood Video  NEW YORK (Reuters) - Movie Gallery Inc. &lt;A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=MOVI.O target=/stocks/quickinfo/fullquote"&gt;MOVI.O&lt;/A&gt; on Friday  offered to buy rival movie rental chain Hollywood Entertainment  Corp. &lt;A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=HLYW.O target=/stocks/quickinfo/fullquote"&gt;HLYW.O&lt;/A&gt; for an undisclosed sum, one week after industry  leader Blockbuster Inc. &lt;A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=BBI.N target=/stocks/quickinfo/fullquote"&gt;BBI.N&lt;/A&gt; bid about \$700 million for  Hollywood.